Business
Selkirk Copper Announces Completion of Acquisition of Minto Copper-Gold-Silver Mine & Resumption of Trading
Vancouver, British Columbia and Pelly Crossing, Yukon--(Newsfile Corp. - October 29, 2025) - Venerable Ventures Ltd. (TSXV: SCMI) (doing business as "Selkirk Co
About this update from Selkirk Copper Mines Inc.
[{"type":"text","content":"Vancouver, British Columbia and Pelly Crossing, Yukon--(Newsfile Corp. - October 29, 2025) - Venerable Ventures Ltd. (TSXV: SCMI) (doing business as \"Selkirk Copper Mines\") (\"Selkirk Copper\" or the \"Company\") is pleased to announce the completion of its acquisition of a 100% interest in the Minto copper-gold-silver mine (\"Project\") located in the Yukon (the \"Transaction\"). The Transaction was completed by a three-cornered amalgamation under the statutory provisions of the Business Corporations Act (British Columbia). The Company incorporated a wholly owned subsidiary, 1560706 B.C. Ltd., which amalgamated with 1561250 B.C. Ltd. (\"SelkirkSubco\"), the Selkirk First Nation affiliate which owns 843093 Yukon Inc., the entity that owns the Project (\"TargetCo\"). SelkirkSubco was a wholly owned subsidiary of 843094 Yukon Inc. (\"SelkirkCo\"), which is in turn wholly owned by the Selkirk First Nation. M. Colin Joudrie, President & CEO, commented: \"Finalizing the acquisition of the former Minto copper-gold-silver mine and launching Selkirk Copper Mines, with the Selkirk First Nation as a controlling shareholder and partner in development, is a significant milestone. I would like to recognize and thank the Selkirk First Nation for their leadership and commitment to pursuing an environmentally sustainable and responsible restart of copper-gold-silver mining at the former Minto site. Successful completion of $44.5 million sub-receipt offerings set the company up well to proceed with our plans to complete a 50,000 meter drill program, Trade-Off Studies and Feasibility Study, updated mine plans, and updated permitting at the former Minto copper-gold-silver mine in support of a potential restart decision in early 2027.\" The Transaction Due to the labour dispute between the British Columbia General Employees' Union and the government of British Columbia, BC Registries, the government body responsible for registrations of businesses, was temporarily closed (the \"Job Action\") and following the end of the Job Action has not yet returned to normal operation. Further to the Company's news releases dated August 26, 2025 and October 1, 2025, as a result of the Job Action, the parties amended the structure of the amalgamation to enable it to be completed notwithstanding effects of the Job Action. As consideration...