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ExGen Resources and MTB Metals Enter into Arrangement Agreement to Merge, Creating a Well-Funded Copper, Gold And Lithium Exploration and Development Company
Vancouver, British Columbia--(Newsfile Corp. - October 17, 2025) - ExGen Resources Inc. (TSXV: E...
About this update from Exgen Resources Inc.
[{"type":"text","content":"ExGen Resources and MTB Metals Enter into Arrangement Agreement to Merge, Creating a Well-Funded Copper, Gold And Lithium Exploration and Development CompanyVancouver, British Columbia--(Newsfile Corp. - October 17, 2025) - ExGen Resources Inc. (TSXV: EXG) (OTC Pink: BXXRF) (\"ExGen\", the \"Company\") and MTB Metals Corp. (TSXV: MTB) (OTCQB: MBYMF) (FSE: E8H) (\"MTB\"): ExGen and MTB are pleased to announce that they have entered into an Arrangement Agreement dated October 16, 2025 (the \"Arrangement\"). The Arrangement sets terms and conditions between ExGen and MTB pursuant to which ExGen and MTB will combine their operations, business, assets and properties (the \"Proposed Transaction\"). The Proposed Transaction will be subject to approval by MTB shareholders, the court, and the TSX Venture Exchange (the \"TSX-V\"), and other closing conditions customary in transactions of this nature. The Proposed Transaction will be an Arm's Length Transaction for both companies under the policies of the TSX-V. There are no finders fees.TERMS OF THE PROPOSED TRANSACTIONUnder the Proposed Transaction, ExGen would acquire all the issued and outstanding securities of MTB, on the basis of 0.286 of an ExGen share for each MTB share, with the result that the current securityholders of MTB will become securityholders of ExGen and will hold approximately 35% of the combined company (subject to potential changes resulting from other potential transactions).Signing of the Arrangement Agreement advances the proposed transaction from the Letter of Intent that was announced on August 13, 2025. In addition to setting definitive terms and conditions, both companies have now initiated work on National Instrument 43-101 (\"NI 43-101\") reports on their flagship projects.BENEFITS OF THE PROPOSED TRANSACTIONThe Proposed Transaction would create a well-funded exploration and development company with a strong balance sheet, a stronger combined management and technical team and assets in multiple favorable jurisdictions.Consolidation of the DOK property interest with the balance of MTB's Telegraph copper-gold project in the fertile Golden Triangle of British Columbia.Exposure for MTB's shareholders to ExGen's 20% carried interest in the Empire copper-gold development-stage mine in Idaho as well as to ExGen's other copper and lithium projects.Lawrence Roulston,...