Business
Arizona Copper and Gold and Core Nickel Sign Definitive Arrangement Agreement and Provide Update on Reverse Takeover Transaction
Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - February 18, 2026) - Arizona Copper and Gold Ltd. ("ACG") and Core Nickel Corp. (TSXV: CNCO)
About this update from Arizona Eagle Mining Corp.
[{"type":"text","content":" Toronto, Ontario and Vancouver, British Columbia--(Newsfile Corp. - February 18, 2026) - Arizona Copper and Gold Ltd. (\"ACG\") and Core Nickel Corp. (TSXV: CNCO) (\"Core Nickel\", and together with ACG, the \"parties\") are pleased to announce that they have entered into a definitive arrangement agreement (the \"Arrangement Agreement\") pursuant to which Core Nickel will acquire all of the issued and outstanding securities of ACG (the \"Transaction\") by way of a statutory plan of arrangement (the \"Arrangement\") under the Business Corporations Act (Ontario) (the \"OBCA\"). Upon completion of the Arrangement, Core Nickel will be renamed Arizona Eagle Mining Corp. (\"Arizona Eagle\"), will have completed a consolidation of its common shares on the basis of one post-consolidation share for every 8.5 pre-consolidation shares, and, following closing, intends to continue its jurisdiction of incorporation from British Columbia into Ontario. The \"Resulting Issuer\" will be Core Nickel as constituted immediately after giving effect to the Arrangement, the consolidation and the name change to Arizona Eagle. The parties are also pleased to announce that the TSX Venture Exchange (the \"TSXV\") has granted its conditional approval for the Transaction, including the listing of (i) the Resulting Issuer's shares (\"Resulting Issuer Shares\") to be issued in exchange for all of the issued and outstanding common shares of ACG (\"ACG Shares\") pursuant to the Arrangement, and (i) the securities issuable by the Resulting in connection with the concurrent financings (the \"Concurrent Financings\") of subscription receipts of both Core Nickel and ACG, as previously announced by the parties in a press release dated November 26, 2025, all subject to customary conditions described below. The business of the Resulting Issuer will be the exploration and development of ACG's Eagle Project in Yavapai County, Arizona. While the Resulting Issuer's focus will be on exploration and development of the Eagle Project, it will continue to own Core Nickel's land portfolio in the Thompson Nickel Belt of northern Manitoba. Chris Tate, CEO of Core Nickel Corp., commented: \"We are delighted to announce the execution of the Arrangement Agreement and the receipt of conditional approval for listing from the TSX Venture Exchange. This transformative transaction d...