On May 2, 2024, Treasury Metals Inc. announced that it has entered into an arrangement agreement with Blackwolf Copper and Gold Ltd. to combine the two companies to advance the Goliath Gold Complex Project in Ontario towards production with a strengthened leadership, balance sheet and capital markets team. The combined company’s Niblack Copper-Gold development project in Alaska and other exploration properties also represent promising upside projects for future growth. Pursuant to the transaction, Treasury will acquire all of the issued and outstanding common shares of Blackwolf for consideration of 0.607 of a Treasury share for each Blackwolf share. Upon completion of the transaction, existing Treasury and Blackwolf shareholders will own approximately 68.3% and 31.7% of Treasury respectively.
Cassels acted for Treasury.