Category

Investing

Category

(TheNewswire)

Juggernaut Exploration Ltd.

Toronto, Ontario TheNewswire – February 27, 2026 Juggernaut Exploration Ltd. (TSX-V: JUGR) (OTCPK: JUGRF) (FSE:4JE) (the ‘Company’ or ‘Juggernaut’) is pleased to announce that it has entered into an agreement with Stifel Canada (the ‘Underwriter’) to act as sole bookrunner and underwriter in connection with a ‘bought deal’ private placement offering by the Company of 3,906,250 units of the Company (the ‘Units’) at an issue price of

$2.56 per Unit (the ‘Offering Price‘), for aggregate gross proceeds of $10,000,000 (the ‘Offering‘). Each Unit will be comprised of one common share (a ‘FT Share‘), and one-half of one common share purchase warrant (each whole warrant, a ‘Warrant‘). Each Warrant shall entitle the holder thereof to purchase one common share in the capital of the Company at an exercise price of $2.08, for a period of 24 months following the Closing Date (as defined below). The FT Shares and Warrants are intended to qualify as ‘flow-through shares’ as defined in subsection 66(15) of the Income Tax Act (Canada) (the ‘Tax Act‘).

 

The Company has granted the Underwriter an option to sell such number of additional Units as is equal to 15% of the number of Units sold under the Offering at the Issue Price (the ‘Underwriter’s Option‘). The Underwriter’s Option will be exercisable, in whole or in part, at any time up until 48 hours prior to the closing date of the Offering (the ‘Closing Date‘).

 

The Offering is expected to close on or about March 19, 2026, and is subject to certain conditions including the receipt of all necessary approvals such as the approval of the TSX Venture Exchange (the ‘Exchange‘).

The gross proceeds from the Units will be used to incur exploration expenses that qualify as ‘Canadian exploration expenses’ as defined in subsection 66.1(6) of the Tax Act, ‘flow-through critical mineral mining expenditures’ as defined in subsection 127(9) of the Tax Act for purposes of the mineral exploration tax credit, and for individual subscribers of Units that are resident in British Columbia, ‘BC flow-through mining expenditures’ as defined in subsection 4.721(1) of the Income Tax Act (British Columbia) (the ‘Qualifying Expenditures‘) on the Company’s flagship Big One Gold Project, located in British Columbia, Canada. Such expenses will be incurred on or before December 31, 2027, and renounced to the subscribers with an effective date no later than December 31, 2026.

 

In connection with the Offering, certain purchasers of Units intend to subsequently (i) donate some or all of such Units to registered charities, who may sell such Units to purchasers arranged by the Underwriter, and/or (ii) sell some or all of such Units to purchasers arranged by the Underwriter, in each case on the Closing Date (such Units described in (i) and (ii), being the ‘Re-Offer Units‘). Sales of Re-Offer Units may be made to purchasers located in (i) each of the provinces of Canada, other than Quebec, pursuant to the Listed Issuer Financing Exemption (as defined below), (ii) the United States pursuant to available exemptions from the registration requirements of applicable United States securities laws, and (iii) such other jurisdictions provided it is understood that no prospectus filing or comparable obligation, ongoing reporting requirement or requisite regulatory or governmental approval arises in such other jurisdictions

 

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 – Prospectus Exemptions (‘NI 45-106‘), the Units will be offered for sale to purchasers resident in Canada

and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the ‘Listed Issuer Financing Exemption‘). As the Offering is being completed pursuant to the Listed Issuer Financing Exemption, the securities underlying the Units issued pursuant to the Offering will not be subject to a hold period pursuant to applicable Canadian securities laws. There is an offering document related to the Offering that can be accessed under the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and on the Company’s website at juggernautexploration.com. Prospective investors should read the offering document before making an investment decision.

 

In consideration for the services provided to the Company in connection with the Offering, the Underwriter will be entitled to receive a cash commission equal to 6.0% of the gross proceeds raised under the Offering (the ‘Cash Commission‘) and such number of broker warrants (‘Broker Warrants‘) as is equal to 6.0% of the number of Units sold under the Offering (including the Underwriter’s Option). Each Broker Warrant will entitle the holder thereof to acquire one common share of the Company at a price of C$1.81 for a period of 24 months following the closing date of the Offering. For the avoidance of doubt, the Cash Commission will be paid from the Company’s cash on hand and not from the gross proceeds received by the Company under the Offering.

 

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘1933 Act‘) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

 

Juggernaut Attending The PDAC

To learn more about Juggernaut’s exciting new Big One discovery, we would like to cordially invite you to visit us at the PDAC, where our entire technical team will be in attendance at booth # 3232, Investors Exchange South Building, Sunday, March 1st, until Wednesday, March 4th, adjacent to our sister company, Goliath Resources. The PDAC is held at the Metro Toronto Convention Centre at 255 Front Street West, Toronto.

PDAC provides a unique venue at the world’s premier mining convention for Juggernaut to showcase its exciting new discovery at the Big One Property located in the Golden Triangle of B.C. The latest discoveries from around the world are featured along with maps, charts, and technical information.

 

About Juggernaut Exploration Ltd.

 

Juggernaut Exploration Ltd. is an explorer of precious metals projects in the prolific Golden Triangle of northwestern British Columbia. Its projects are located in globally recognized geological settings and in geopolitically stable jurisdictions, making them amenable to mining in Canada. Juggernaut is a member and active supporter of CASERM, a collaborative venture between the Colorado School of Mines and Virginia Tech. Juggernaut’s key strategic cornerstone shareholder is Crescat Capital.

For more information, please contact:

Juggernaut Exploration Ltd.

Dan Stuart

Chief Executive Director, Director Tel: +(604) 559-8028

www.juggernautexploration.com

This press release contains statements that constitute ‘forward-looking information’ (‘forward-looking information‘) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. Forward-looking statements in this news release include statements regarding the Offering (including the completion of the Offering on the terms and timeline as announced or at all, the tax treatment of the securities comprising the Units, the timing to incur and renounce all Qualifying Expenditures in favour of the subscribers, and the use of proceeds of the Offering), and the Company’s ability to obtain all regulatory approvals, including the approval of the Exchange. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting the Company’s business and results of operations; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Copyright (c) 2026 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

This post appeared first on investingnews.com

The UK has entered commercial lithium production for the first time as Geothermal Engineering Ltd (GEL) began operations in its plant at Cornwall, anchoring the government’s hopes of a domestic battery metals supply chain.

The Redruth-based facility marks the country’s first commercial-scale output of lithium, a metal essential for electric vehicle batteries and energy storage systems.

Initial production is set at 100 tons per year, with plans to expand to 1,500 tons annually within several years and to more than 18,000 tons over the next decade. That long-term expansion would require an estimated £640 million, or around US$860 million, in additional investment.

Beijing’s use of export restrictions on critical materials last year further sharpened the country’s concerns about supply vulnerability. China currently controls about 60 percent of global lithium processing capacity and dominates much of the downstream battery supply chain.

The UK government has set a target to produce 50,000 tons of lithium domestically by 2035. Demand is expected to surge as electric vehicle adoption expands and grid-scale energy storage grows.

GEL’s project combines lithium extraction with geothermal energy production. The company has drilled nearly three miles underground into granite formations in Cornwall, circulating mineral-rich fluids that are both hot enough to generate electricity and contain dissolved lithium.

The geothermal plant, also switched on this week, will power the lithium extraction process. The excess electricity is also expected to generate enough electricity to supply up to 10,000 homes.

GEL founder Ryan Law said pairing lithium production with geothermal power is critical to cost control. “We can easily compete with what’s coming from China,” Law told the Financial Times.

The project has cost approximately US$67.5 million so far, funded through private investors and US$20.25 million from the European Development Fund. The UK government also provided a US$2.43 million grant, covering half the cost of the initial lithium extraction system.

Cornwall has emerged as the center of Britain’s lithium ambitions. Several companies are working to bring projects online, though timelines have shifted amid volatile lithium prices.

For instance, Cornish Lithium, which has been producing small quantities of lithium hydroxide samples for potential customers since October and is targeting a commercial plant by 2029, had reduced its 2030 production target from 25,000 tons annually to 20,000 tons.

Meanwhile, British refiner Green Lithium has also pushed back the opening of its Teesside commercial facility to around 2029, adopting what co-founder Guy Hatcher called a “more phased development strategy.”

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated markets for trading 12,000 U.S. and international securities, today announced Rua Gold INC. (TSX: RUA,OTC:NZAUF; OTCQX: NZAUF), an exploration company, has qualified to trade on the OTCQX® Best Market. Rua Gold INC. upgraded to OTCQX from the OTCQB® Venture Market.

Rua Gold INC. begins trading today on OTCQX under the symbol ‘NZAUF.’ U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.

The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify for OTCQX, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws. Graduating to the OTCQX Market marks an important milestone for companies, enabling them to demonstrate their qualifications and build visibility among U.S. investors.

About Rua Gold INC.
Rua Gold is an exploration company, strategically focused on New Zealand. With decades of expertise, our team has successfully taken major discoveries into producing world-class mines across multiple continents. The team is now focused on maximizing the asset potential of Rua Gold’s two highly prospective high-grade gold projects. The Company controls the Reefton Gold District as the dominant landholder in the Reefton Goldfield on New Zealand’s South Island with over 120,000 hectares of tenements, in a district that historically produced over 2Moz of gold grading between 9 and 50g/t. The Company’s Glamorgan Project solidifies Rua Gold’s position as a leading high-grade gold explorer on New Zealand’s North Island. This highly prospective project is located within the North Islands’ Hauraki district, a region that has produced an impressive 15Moz of gold and 60Moz of silver. Glamorgan is adjacent to OceanaGold Corporation’s biggest gold mining project, Wharekirauponga.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our public markets: OTCQX® Best Market, OTCQB® Venture Market, OTCID™ Basic Market and Pink Limited™ Market. Our OTC Link® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN, OTC Link NQB, and MOON ATS™ are each SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC. To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

Primary Logo

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; FRANKFURT:1XQ; ‘BRW’ or the ‘Company’) is pleased to announce the appointment of Charles Kodors to Vice President International Projects. Mr. Kodors has been with Brunswick Exploration since its rebranding in 2020 and has been instrumental in securing the Company’s international portfolio over the last three years.

Mr. Killian Charles, President and CEO of BRW, commented: ‘Charles is a key part of Brunswick’s exploration team alongside François Goulet and Simon Hebert and its successes over the last five years where he first managed our Canadian lithium portfolio, ex-Quebec, before continuing to grow our international portfolio. With a major work program planned in Saudi Arabia and Greenland over the coming months, this new title reflects his accrued responsibility within the company.’

Mr. Kodors has over 15 years of experience in the mining and exploration industry, where prior to his role at Brunswick Exploration, he served as an Exploration Manager for Osisko Metals and a Senior Exploration Geologist for Kirkland Lake Gold. Mr. Kodors received his B.Sc. from Brock University and is a registered Professional Geologist within the provinces of New Brunswick and Quebec.

Grant of Stock Options and DSUs

The Company announces that it has granted 186,566 deferred share units (‘DSUs’) to its non-executive directors, in accordance with the Corporation’s Deferred Share Unit Plan, available on SEDAR+ at www.sedarplus.ca. in lieu of their board fees. The DSUs were granted at a fair market value of $0.268 per DSU and will vest one year from the grant date.

The Company’s Board of Directors have also approved the grant of incentive stock options to directors, officers, employees and consultants to purchase up to an aggregate of 3,515,000 common shares in the capital stock of the Corporation. Grants are subject to a three-year vesting period and a five-year term at an exercise price of $0.235 per share.

About Brunswick Exploration

Brunswick Exploration is a Montreal-based mineral exploration company listed on the TSX-V under symbol BRW. The Company is focused on grassroots exploration for lithium in Canada, a critical metal necessary to global decarbonization and energy transition. The company is rapidly advancing the most extensive grassroots lithium property portfolio in Canada, Greenland and Saudi Arabia underpinned by its Mirage project, one of the largest undeveloped hard-rock lithium Inferred Mineral Resource Estimate in the Americas, with 52.2Mt grading 1.08% Li2O.

Investor Relations/information

Mr. Killian Charles, President and CEO

Phone: 514 861 4441

Email: info@BRWexplo.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Primary Logo

News Provided by GlobeNewswire via QuoteMedia

This post appeared first on investingnews.com

Perth, Australia (ABN Newswire) – Basin Energy Limited (ASX:BSN) (OTCMKTS:BSNEF) announced that it has now executed a Mineral Rights Purchase and Sale Agreement (‘MRPSA’) with Green Canada Corporation Inc (‘GCC’), a 54% owned subsidiary of PTX Metals Inc. (TSXV: PTX) (‘PTX’) to sell the Marshall Uranium Project (‘Marshall’), located in Saskatchewan, Canada. This follows the binding letter of intent, as announced on the 24th November 2025.

Key Highlights

– Mineral Rights Purchase and Sale Agreement executed, advancing Basin’s sale of 100% of the Marshall Uranium Project to Green Canada Corporation Inc (‘GCC’).

– GCC progressing toward public listing on Canadian Stock Exchange, in conjunction with a reverse takeover of Maackk Capital Corp.

– Basin will receive consideration of up to:

o C$600,000 payable in cash in four equal annual instalments;

o C$300,000 payable in shares over three equal annual instalments; and

o 9.99% of the total issued capital of the newly listed entity.

– Basin retains strong upside optionality, including a 25% project level buyback option and threeyear Right of first refusal (ROFR) on any future sale.

– Basin and CanAlaska Uranium Ltd (CVE:CVV) (‘CanAlaska’) have also granted GCC a 9-month exclusivity for the North Millennium Project.

The transaction is now conditional primarily on the proposed Reverse Takeover (‘RTO’) by GCC of Maackk Capital Corp (‘MAACKK’) and concurrent minimum C$2.5 million financing and admission to the Canadian Securities Exchange (‘CSE’) or such other stock exchange as may be mutually agreed upon by the parties.

In addition to the Marshall agreement, Basin and CanAlaska have agreed to grant GCC a 9-month exclusivity right to conduct due diligence and, if satisfactory, negotiate the terms of an earn-in option to acquire up to a 51% interest in the North Millennium joint venture project of CanAlaska and BSN.

Managing Director, Pete Moorhouse commented:

‘The execution of the definitive agreement marks a key milestone in unlocking value from the Marshall Uranium Project, while maintaining meaningful upside exposure for Basin shareholders.

With GCC progressing toward its public listing and associated financing, we are pleased to see a clear pathway toward funded exploration and drill testing at Marshall in the near term. Importantly, Basin retains leverage and upside through our equity interest, buyback option and right of first refusal, ensuring continued alignment with the project’s success.’

Terms of the Deal

In consideration, GCC has agreed to the following payments to Basin:

– C$600,000 payable in cash in four equal annual instalments, with the first payment due on closing of the transaction;

– C$300,000 payable in shares, issuable in three equal annual instalments based on the 5-day Volume-Weighted Average Price on the business day immediately preceding the date of issuance; and

– 9.99% of the total issued and outstanding resulting issuer shares on a non-diluted basis after giving effect to the concurrent financing at the time of closing of the proposed RTO, subject to 12-month escrow.

Basin will receive an additional 400,000 shares in the resulting issuer upon closing of the RTO in return for granting the 9-month exclusivity right in the North Millennium joint venture.

Basin will have a right of first refusal on any sale of the Marshall Project by GCC for a period of three years following the closing date of the transaction. In addition, Basin will retain a repurchase right to acquire from GCC a 25% interest in the Marshall Project for C$1,000,000 for a period commencing on the closing date and ending on the earlier of: the date that is five years from the closing date or the date on which GCC has incurred total exploration expenditures of C$10,000,000 on the Marshall Project.

Pursuant to the terms of the MRPSA, GCC is required to fund exploration expenditures for an initial work program on the Marshall Project to be carried out within twenty-four months from the closing. The Initial Work Program will have a budget in an amount that is the greater of C$1,500,000, and the minimum amount required to maintain the mineral claims comprising the Marshall Project in good standing under applicable governmental regulations.

Basin will also have the right to nominate one director to the board of the resulting issuer.

GCC will retain the right to withdraw from the transaction at any time after the closing of the transaction, in which case the project will return to Basin and no further payments will be required.

The Company has considered the application of ASX Listing Rule 11.4(a) and considers it does not apply.

About Green Canada Corporation

GCC is a 54% owned subsidiary of PTX Metals Inc. (CVE:PTX) and a uranium exploration company with a portfolio of projects located in Thelon Basin, Nunavut, the Athabasca Basin, Saskatchewan and Quebec. Concurrent to the LOI to acquire Basin’s Marshall project, GCC announced that it has entered into a binding letter of intent with MAACKK pursuant to which GCC and MAACKK intend to complete a transaction that would result in a reverse take-over of MAACKK by the shareholders of GCC (the ‘Proposed RTO’). Closing of the Proposed RTO will be subject to, among other things, requisite regulatory approval for the listing of the resulting issuer of the Proposed RTO (the ‘Resulting Issuer’) on the Canadian Securities Exchange or such other stock exchange as may be mutually agreed upon by the parties, along with completion of concurrent financing and execution of the definitive agreements in respect of the acquisition of the Marshall project.

Upon completion of the Proposed RTO, the current directors and officers of MAACKK will resign and it is anticipated that the board of directors of the Resulting Issuer will be reconstituted to consist of Richard J. Mazur, Greg Ferron, Olivier Crottaz and a representative from the Basin.

About the Marshall and North Millennium Projects

The Marshall project is 100% owned by Basin, and the North Millennium Project is under joint venture agreement on a 40:60 basis with CanAlaska.

The Marshall and North Millennium projects are located less than 11 km from Cameco Corporation’s Millennium deposit (104.8Mlb at 3.8% U3O8) and around 40 km from the prolific McArthur River uranium mine, one of the world’s highest-grade uranium operations, refer to Figure 1*. Both projects are deemed prospective for unconformity style uranium exploration.

In 2024, ground electromagnetics (‘EM’) at Marshall identified three main targets which confirms the geological and exploration model. Of note is Target 1, refer to Figure 2*, where modelled EM plates below the unconformity align with a sandstone Z-Tipper Axis Electromagnetic (‘ZTEM’) anomaly, which is interpreted to be alteration within sandstone. The identification of these targets is encouraging and consistent with regional trends in the southeastern Athabasca and provides increased confidence in drill hole targeting.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/R3LUUKE8

About Basin Energy Ltd:

Basin Energy Ltd (ASX:BSN) (OTCMKTS:BSNEF) is a green energy metals exploration and development company with an interest in three highly prospective projects positioned in the southeast corner and margins of the world-renowned Athabasca Basin in Canada and has recently acquired a significant portfolio of Green Energy Metals exploration assets located in Scandinavia.

Source:
Basin Energy Ltd

Contact:
Pete Moorhouse
Managing Director
pete.m@basinenergy.com.au
+61 7 3667 7449

Chloe Hayes
Investor and Media Relations
chloe@janemorganmanagement.com.au
+61 458619317

News Provided by ABN Newswire via QuoteMedia

This post appeared first on investingnews.com

(TheNewswire)

Prismo Metals Inc.

Secures Equity, Cash, and Ongoing Upside Exposure

Vancouver, British Columbia, February 26th, 2025 TheNewswire – Prismo Metals Inc. (‘Prismo’ or the ‘Company’) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to announce that it has entered into a definitive  assignment agreement (the ‘Agreement’) with Blade Resources Inc. (‘Blade’) pursuant to which Prismo has agreed to assign all of its rights, interests and obligations in the Hot Breccia copper project, located  in the heart of the Arizona copper belt (the ‘Transaction’), to Blade. The Transaction is expected to close on or about March 2, 2026, or such other date as the Company and Blade may agree.

In consideration for the Transaction, Prismo will be issued 6,755,000 common shares of Blade and will receive a cash payment of $185,000. Following completion of the Transaction, Prismo will own approximately 24% of Blade’s issued and outstanding shares and will be Blade’s largest single shareholder (see additional early warning disclosure below).

Alain Lambert, CEO of Prismo, commented: ‘In our opinion, Hot Breccia is one of the best copper exploration opportunities in North America. Since optioning the project in January 2023, we have remained committed to advancing it toward drilling. After carefully evaluating our options – including funding a drill program internally, partnering with a major, or joining forces with like-minded explorers – we have concluded that the best way forward for Prismo is the latter hence this partnership with Blade.’ He added: ‘The principals and financial backers of Blade have a long history and strong track record in raising significant capital for exploration programs of the scale required at Hot Breccia.’

Strategic Rationale

The Transaction provides several strategic benefits:

Value Creation: Prismo is leveraging its investments in Hot Breccia into a significant stake in a company dedicated to advancing the Hot Breccia project.

Access to Capital with Limited Dilution: The structure provides enhanced access to capital for the Hot Breccia drill program through Blade, without direct dilution to Prismo shareholders.

Strategic Focus: Prismo will focus on advancing its remaining Arizona projects — Silver King and Ripsey Gold — while Blade dedicates its efforts to advancing Hot Breccia.

Enhanced Attractiveness to Strategic Partners: With the potential for 100% ownership of Hot Breccia, Blade will be in a better position to possibly attract majors or strategic buyers.

Prismo’s Investment in Blade

Regarding Prismo’s investment in Blade, Mr. Lambert said: ‘We see several potential pathways for our investment: holding it long term, monetizing a portion to fund other projects, distributing shares to our shareholders, or a combination of these last two approaches. At this time, we are entering this transaction with a long-term perspective. Successful development at Hot Breccia would have meaningful implications for shareholder value.’

Additional Prismo Rights under the Transaction

Under the terms of the Transaction:

  • Prismo has the right to nominate one representative to Blade’s board of directors. The Company has not yet determined its initial nominee. 

  • Blade has granted Prismo participation rights in future equity offerings, allowing Prismo to subscribe for shares on substantially the same terms as other investors in order to maintain its undiluted ownership percentage in Blade. 

Dr. Linus Keating, manager of Walnut Mines LLC, the underlying landowner of Hot Breccia enthusiastically commented: Walnut Mines strongly supports any initiative that advances Hot Breccia toward a serious drill program. We are optimistic that this transaction will help achieve that objective in 2026. In our view, this property continues to represent an excellent copper exploration opportunity in North America.

Early Warning Disclosure

This news release is issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. Prior to the Transaction, Prismo did not own any common shares of Blade. The common shares of Blade will be acquired by Prismo for a total consideration of $2,364,250 and will be acquired for investment purposes with a view to Blade’s potential listing on a Canadian stock exchange.

Except as described in this news release, Prismo has no present plans or intentions that relate to or would result in any of the matters enumerated in paragraphs (a) through (k) of Item 5 of Form 62-103F1.

Prismo will file an early warning report in accordance with applicable securities laws, which will be available under Blade’s profile on SEDAR+ at www.sedarplus.ca . A copy of the early warning report may be obtained by contacting Gordon Aldcorn at the contact details below.

About the Hot Breccia Project

The Hot Breccia project lies at the heart of the Arizona Copper Belt, which hosts several globally significant porphyry copper deposits.  Examples of these significant deposits are Freeport McMoRan’s Miami-Inspiration mining complex, BHP’s San Manuel mine, Rio Tinto and BHP’s Resolution deposit and others (see Figure 1).  

Figure 1. Location of the Hot Breccia Project in the Arizona Copper Belt.

Note that the Company and its qualified person have not been able to independently verify the information on these producing mines, and that the information is not necessarily indicative of the mineralization on the Hot Breccia project.

About Prismo Metals Inc.

Prismo (CSE: PRIZ,OTC:PMOMF, OTCQB: PMOMF) is a mining exploration company focused on advancing its Silver King, Ripsey and Hot Breccia projects in Arizona and its Palos Verdes silver project in Mexico.

About Blade Resources Inc.

Blade Resources is a private mining exploration company focused on development of North American copper and precious metals projects.

Please follow @PrismoMetals on , , , Instagram, and

Prismo Metals Inc.

1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6  Phone: (416) 361-0737

Contact:

Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com

Gordon Aldcorn, President gordon.aldcorn@prismometals.com

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information relates to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as intends’ or anticipates‘, or variations of such words and phrases or statements that certain actions, events or results may’, could’, should’, would’ or occur’. This information and these statements, referred to herein as ‘forward‐looking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the anticipated closing and closing date of the Transaction; the strategic rationale and potential upside of the transaction with Blade,  the future development of the Hot Breccia project and Blade’s ability of Blade to successfully implement its strategic and business objectives, including potentially attracting majors or strategic buyers; and the ability of Prismo to fund its exploration activities on its other projects.

These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: that the Transaction may not close as anticipated, or at all; delays incurred by Blade in obtaining or failure to obtain appropriate funding to finance the exploration program at Hot Breccia; the inability of Blade to successfully acquire a 100% interest on the Hot Breccia project; delays incurred by the Company in obtaining or failure to obtain appropriate funding to finance exploration programs for its other projects; the risk that mineralization will not be as anticipated at the Hot Breccia project or at the Company’s other projects; metal prices; market uncertainty; and other risks and uncertainties application to exploration activities and the Company’s business as set forth in the Company’s disclosure documents available for viewing under the Company’s profile on SEDAR+ at www.sedarplus.com.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the timeline for closing the Transaction will be as anticipated; the Transaction will close; the ability to raise capital to fund exploration programs at Hot Breccia or on the Company’s other projects, and the timing of such exploration programs; the ability of Blade to complete the option to acquire a 100% interest in the Hot Breccia project and to successfully carry out its business and strategic objectives following completion of the transaction; and that the Hot Breccia project and the Company’s other projects will have the anticipated mineralization and other qualities.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

Copyright (c) 2026 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

This post appeared first on investingnews.com