Business
Matachewan Announces Special Distribution
TORONTO, Jan. 07, 2026 (GLOBE NEWSWIRE) -- Matachewan Consolidated Mines, Limited (“ Matac...
About this update from Matachewan Consolidated Mines, Limited
[{"type":"text","content":"Matachewan Announces Special Distribution\nTORONTO, Jan. 07, 2026 (GLOBE NEWSWIRE) -- Matachewan Consolidated Mines, Limited (“Matachewan” or the “Company”) (TSX-V:MCM.A-X) today announced that the Board of Directors of the Company (the “Board”) has declared a special one-time distribution of cash (the “Cash Distribution”) and a special one-time distribution of common shares of Taranis Resources Inc. (“Taranis Shares”) that are held by the Company (the “Share Distribution”, and, collectively with the Cash Distribution, the “Distributions”) to its shareholders (the “Shareholders”) of record at the close of business on January 14, 2026 (the “Record Date”). The Distributions will be made on January 22, 2026 (the “Distribution Date”). After careful consideration of the potential alternatives, the Board determined that it is in the best interest of the Company for it to make the Distributions. Cash Distribution The Company will distribute an aggregate of $5,530,000 pursuant to the Cash Distribution which will amount to approximately $0.4053 per common share of the Company (a “Company Share”) held. A portion of the Cash Distribution in the amount of $2,800,000 (or $0.2052 per Common Share) will constitute a return of capital to the Shareholders, with the remainder in the amount of $2,730,000 (or $0.2000 per Common Share) (the “Cash Dividend”) to be treated as a dividend. On October 1, 2025, the Shareholders approved a special resolution authorizing a reduction of the stated capital account maintained in respect of the Company Shares by an amount equal to $2,800,000 to enable the Company to make such return of capital in cash to the Shareholders. Each of the Cash Dividend and the Share Distribution is designated as an “eligible dividend” for Canadian income tax purposes. Taranis Resources Inc. Share Distribution and Securities Lending Arrangement The Company will distribute an aggregate of 10,615,348 Taranis Shares to the Shareholders pursuant to the Share Distribution, which will amount to approximately 0.7780 Taranis Shares per Company Share held. In order to facilitate the Share Distribution, the Company has entered into a share lending and pledge agreem...