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EDM Announces First Quarter 2026 Update and Advancement of Key Milestones
Halifax, Nova Scotia--(Newsfile Corp. - April 8, 2026) - EDM Resources Inc. (TSXV: EDM) (FSE: P3Z...
About this update from Edm Resources Inc
[{"type":"text","content":"EDM Announces First Quarter 2026 Update and Advancement of Key MilestonesHalifax, Nova Scotia--(Newsfile Corp. - April 8, 2026) - EDM Resources Inc. (TSXV: EDM) (FSE: P3Z) (\"EDM\" or the \"Company\") is pleased to provide a summary of its activities during the first quarter of 2026 and an update on key milestones supporting the advancement of the Scotia Mine toward production.The President and CEO, Mr. Mark Haywood, stated: \"During the first quarter of 2026, EDM achieved significant progress across permitting, capital markets, and project development. With the Fisheries Act Authorization now entering the formal review phase, continued strengthening of our capital structure, and the advancement of technical and exploration programs, the Company is well positioned to transition toward a production decision.\"FIRST QUARTER 2026 HIGHLIGHTSPermitting & Regulatory ProgressThe Company has provided a performance bond of $1.16 million in support of its Fisheries Act Authorization (\"FAA\") application.The Department of Fisheries and Oceans (\"DFO\") confirmed the FAA application has been deemed complete and has now entered the 90-day review and evaluation period.Capital Markets & LiquidityDuring March 2026, EDM achieved a sustained trading milestone, with its share price trading above the warrant acceleration threshold for the required period, supporting enhanced capital markets positioning.The Company's application for quotation on the OTCQB® Venture Market is nearing completion, with final regulatory steps underway. The Company expects the OTCQB quotation to go live in May 2026, subject to final approvals.Financing ActivitiesDuring the quarter, 4,409,831 warrants with a strike price of $0.14 were exercised, generating gross proceeds of $617,376.The Company also completed the sale of 30,000 units of Silver Crown Royalties, generating approximately $552,800 in net proceeds from the sale.Exploration & Resource DevelopmentA two-phase gold exploration program has commenced at the Scotia Mine, targeting near-term value enhancement and resource expansion opportunities.Work on an updated NI 43-101 Mineral Resource Estimate is progressing and is expected to be completed in Q2 2026.Project Development & Technical WorkCosting and scope definition for completion of the proposed NI 43-101 Pre-Feasibility Study (PFS) are being...