The TSX Venture Exchange has accepted for filing documentation pertaining to an arrangement agreement dated Feb. 3, 2025, as amended on March 31, 2025, between the company and Ascendant Resources Inc. (the target), whereby the company acquired all securities of the target not already owned by the company. The acquisition of the target was carried out by mean of the plan of arrangement under the arrangement provisions of Section 182 of the Business Corporations Act (Ontario) and was completed on May 16, 2025.

Under the terms of the agreement, the company acquired the target in exchange for common shares issuance at a ratio of 7.8 common shares of the target for one common share of the company, which resulted in issuance of 27,721,684 common shares. The company also replaced target's outstanding stock options and common share purchase warrants with company's 4,903,822 stock options and 1,730,601 warrants.

For further details, please refer to the company's news releases dated Feb. 3, 2025, and May 20, 2025.