Business
ExGen Resources Completes Acquisition of MTB Metals
Vancouver, British Columbia--(Newsfile Corp. - December 19, 2025) - ExGen Resources Inc. (TSXV: EXG) (OTC Pink: BXXRF) ("ExGen") and MTB Metals Corp. (TSXV: ...
About this update from Exgen Resources Inc.
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - December 19, 2025) - ExGen Resources Inc. (TSXV: EXG) (OTC Pink: BXXRF) ("ExGen") and MTB Metals Corp. (TSXV: MTB) (OTCQB: MBYMF) (FSE: E8H) ("MTB") are pleased to announce completion of the previously disclosed plan of arrangement (the "Arrangement"), pursuant to which ExGen acquired all of the issued and outstanding securities of MTB by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia).","length":517,"tagName":"p"},{"type":"text","content":"Commenting on the acquisition, ExGen CEO Jason Riley said: "ExGen is pleased to welcome the MTB team and shareholders to our company. The integration of MTB marks a pivotal milestone for ExGen. This partnership isn't just about scale; it's about combining our shared vision to capture an incredible time in the market that we believe has only just begun. Together, we possess the critical mass and agility needed to build momentum on future partnerships and acquisitions to establish ExGen as an emerging royalty company."","length":540,"tagName":"p"},{"type":"text","content":"TRANSACTION DETAILS","length":19,"tagName":"p"},{"type":"text","content":"Pursuant to the terms of the Arrangement, among other things, ExGen acquired 100% of the issued and outstanding common shares in the capital of MTB (the "MTB Shares") in exchange for the issuance of 0.286 common shares in the capital of ExGen (each whole common share, an "ExGen Share") to shareholders of MTB in exchange for each MTB Share (the "Exchange Ratio"). Following the completion of the Arrangement, there are 109,149,808 issued and outstanding ExGen Shares.","length":498,"tagName":"p"},{"type":"text","content":"Each eligible outstanding stock option to acquire MTB Shares (the "MTB Options") was exchanged for a replacement stock option to acquire ExGen Shares, in amounts and at exercise prices adjusted in accordance with the Exchange Ratio. Any document previously evidencing MTB Options now evidences and shall be deemed to evidence such replacement stock options. Further, each outstanding warrant to acquire MTB Shares (the "MTB Warrants") will entitle the holder thereof to receive, upon the exercise thereof, 0.286 of an ExGen Share at a price adjusted in ...