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Nexcel Acquires an Additional 42% Interest in the Burnt Hill Tungsten Project
Vancouver, British Columbia--(Newsfile Corp. - February 17, 2026) - Nexcel Metals Corp. (CSE: NEXX) (OTCQB: NXXCF) (FSE: 2OH) ("Nexcel" or the "Company") is pleased to announce that, further to its news releases dated February 2, 2026, and February 5, 2026, the Company has acquired an additional 42% interest ("Property Interest") (for a total 71.58% Property Interest) in and to the Burnt Hill Tungsten Project (the "Burnt Hill Project") located in New Brunswick, Canada, pursuant to the purchase..
About this update from Nexcel Metals Corp
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - February 17, 2026) - Nexcel Metals Corp. (CSE: NEXX) (OTCQB: NXXCF) (FSE: 2OH) ("Nexcel" or the "Company") is pleased to announce that, further to its news releases dated February 2, 2026, and February 5, 2026, the Company has acquired an additional 42% interest ("Property Interest") (for a total 71.58% Property Interest) in and to the Burnt Hill Tungsten Project (the "Burnt Hill Project") located in New Brunswick, Canada, pursuant to the purchase agreement dated January 30, 2026, as amended on February 4, 2026 (the "Purchase Agreement"), with Wyloo Ring of Fire Ltd. (the "Vendor"), an arm's length party (the "Acquisition").","length":753,"tagName":"p"},{"type":"text","content":"Under the terms of the Purchase Agreement, the Company acquired the 42% Property Interest in consideration for the issuance to the Vendor of 3,931,094 common shares of the Company ("Common Shares" and as issued pursuant to the Acquisition, the "Consideration Shares") and 6,250,000 non-transferrable Common Share purchase warrants ("Consideration Warrants"), with each Consideration Warrant exercisable to acquire one Common Share at a price of $0.90 until February 17th, 2029. The Consideration Warrants are subject to a blocker term that prohibits exercise of the Consideration Warrants to the extent the Vendor would as a result of any exercise hold more than 19.99% of the issued Common Shares, unless the Vendor receives disinterested shareholder approval in accordance with the policies of the Canadian Securities Exchange (the "Exchange").","length":886,"tagName":"p"},{"type":"text","content":"All securities issued pursuant to the Acquisition and issuable upon exercise thereof will be subject to a four-month and one day hold period pursuant to applicable securities laws and the policies of the Exchange. The Consideration Shares will also be subject to the following voluntary resale restrictions, which restrictions constitute an "Extended Hold" under the policies of the Exchange: (i) 15% of the Consideration Shares shall be restricted until each of the dates that are six, 12, 18, 24 and 30 months following the closing of the Acquisition and (ii) 10% of the Consideration Shares shall not be re...