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Loyalist Exploration Update on Acquisition of the Tully Gold Project
Toronto, Ontario – TheNewswire – September 29, 2025 – Loyalist Exploration Limited (CSE:PNGC) (“Loyalist” or the “Company”) is pleased to announce that it inten
About this update from Loyalist Exploration Limited
[{"type":"text","content":"Toronto, Ontario – TheNewswire – September 29, 2025 – Loyalist Exploration Limited (CSE:PNGC) (“Loyalist” or the “Company”) is pleased to announce that it intends to complete the previously announced acquisition (the “Acquisition”) of the Tully Gold Project (see press releases dated April 9, 2025 and July 8, 2025) located in the prolific Timmins, Ontario gold mining camp on or about October 2, 2025. As part of the Acquisition, Loyalist expects that it may issue an aggregate of up to approximately 114,256,278 common shares in the capital of Loyalist (“Shares”), subject to adjustments in accordance with the terms as announced on April 9, 2025 and July 8, 2025, to the vendor of the Tully Gold Project. Together with other issuances of Shares that the Company has made in 2025, the total dilution of the Company as a result of the Acquisition is expected to exceed 100%. Consequently, in accordance with the policies of the Canadian Securities Exchange, the Acquisition is subject to shareholder approval, which Loyalist intends to obtain by written consent of its 50% plus one of its shareholders. Completion of the Acquisition is subject to the receipt of all necessary regulatory approvals. All Shares issued in connection with the Acquisition will be subject to a four month and one day statutory hold period. Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) have reviewed or accept responsibility for the adequacy or accuracy of this release. About Loyalist Exploration Limited Loyalist Exploration Limited is a mineral exploration company concentrating on acquiring, exploring, and developing quality mineral properties in Canada. The Company is focused on the Loveland nickel/copper/gold property and the recently announced Gold Rush gold/silver property, both located in the Timmins, Ontario mining district. For further information please visit the Company's website at loyalistexp.ca or contact: Loyalist Exploration Limited Errol Farr, President and CEO Email: [email protected] Tel: 647-296-1270 Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) have reviewed or accept responsibility for the adequacy or accuracy of this release. This news release contain...