The TSX Venture Exchange has accepted for filing the company's acquisition of all of the issued and outstanding Series A shares in the fixed capital, and all the issued and outstanding Series B shares in the variable capital, of an arm's-length party, pursuant to a concurso mercantil process. The judgement issued by the Mexican court on Dec. 23, 2025, in favour of the company's plan of arrangement completed the bankruptcy and restructuring of the vendor under the concurso mercantil process. The vendor's primary asset is the formerly producing San Francisco mine concessions, located in Sonora state, Mexico.

As part of the acquisition, the company acquired 60.24 per cent of the debts owed to certain creditors as recognized by the Mexican court for $8,971,000, of which $496,000 remains to be paid. Under the terms of the plan of arrangement, the company has agreed to pay $2,566,000 in three equal instalments in December, 2026, 2027 and 2028, to the remaining creditors holding 39.76 per cent of the recognized debt, $1.15-million in December, 2026, to the secured creditors, in addition to all outstanding mining concession fees (including penalties and interest), taxes, fees owed to the National Water Commission, supplier debts and certain expenses related to the concurso mercantil proceedings, currently estimated at approximately $8.9-million.

For further details, please refer to the company's news releases dated Sept. 18, 2025, Dec. 24, 2025, and June 15, 2026.