Business
Canary Gold Issues Shares Pursuant to Agreement to Acquire Property at Madeira River, Rondonia, Brazil
Vancouver, British Columbia – TheNewswire - February 25, 2026 – Canary Gold Corp. (CSE: BRAZ; OTC: CNYGF; Frankfurt: K5D) (“Canary Gold” or the “Company”) annou
About this update from Canary Gold Corp.
[{"type":"text","content":"Vancouver, British Columbia – TheNewswire - February 25, 2026 – Canary Gold Corp. (CSE: BRAZ; OTC: CNYGF; Frankfurt: K5D) (“Canary Gold” or the “Company”) announces that in connection with the previously announced purchase agreement (the “Agreement”) between the Company and Talisman Venture Partners Ltd. (“Talisman”) dated August 29, 2025, the Company has issued a further 1,500,000 common shares in its capital at a price of CAD$0.30 per share, representing the “Final Payment” of CAD$450,000 required under the Agreement. Pursuant to the Agreement, as previously disclosed in the news release dated August 29, 2025, the Company acquired a 100% interest in ten mineral tenements totaling approximately 94,700 hectares located in the state of Rondônia, Brazil (the “Property”) for total consideration of CAD$1,700,000, satisfied through a combination of cash and shares as follows: A cash payment of CAD$50,000 on execution of the Definitive Agreement (paid); the issuance of 4,000,000 common shares of Canary Gold at a deemed price of CAD$0.30 per share (for a deemed consideration of CAD$1,200,000) on execution of the Definitive Agreement (issued on August 29, 2025); and On the date that is 180 days following the execution of the Definitive Agreement (the Final Payment Date”), at the election of Canary Gold, in its sole discretion, either (A) a further cash payment of CAD$450,000; or (B) the issuance of CAD$450,000 worth of common shares (the “Final Payment”), each share to be issued at a price equal to the higher of (x) CAD$0.30 or (y) the volume weighted average price of the Company’s common shares on the CSE for the 10 trading days preceding the Final Payment Date. As part of the transaction, Talisman retained a 1.0% Net Smelter Return (NSR) royalty on all commercial mineral production from the Property, one-half of which (reducing the NSR to 0.5%) may be purchased by Canary Gold at any time for CAD$1,000,000. The shares issued are subject to a four-month hold period expiring June 26, 2026. About Canary Gold Corp. Canary Gold Corp. is a Canadian public exploration company focused on the acquisition and advancement of gold projects in Brazil. The Company holds an option to earn up to a 70% undivided interest in the Rio Madeira Project through a series of staged exploration expenditures and milestone pay...