Business
Sun Peak Metals Announces Completion of Acquisition of Saudi Discovery Company SPV Limited
VANCOUVER, BC / ACCESS Newswire / December 18, 2025 / Sun Peak Metals Corp. (TSXV:PEAK)(OTCQB:...
About this update from Sun Peak Metals Corp.
[{"type":"text","content":"Sun Peak Metals Announces Completion of Acquisition of Saudi Discovery Company SPV LimitedVANCOUVER, BC / ACCESS Newswire / December 18, 2025 / Sun Peak Metals Corp. (TSXV:PEAK)(OTCQB:SUNPF) (\"Sun Peak\" or the \"Company\") is pleased to announce the successful completion of its previously announced transaction pursuant to which Sun Peak acquired all of the issued and outstanding shares (the \"SDC Shares\") of Saudi Discovery Company SPV Limited (\"SDC\" or \"Saudi Discovery\"), by way of a share exchange (the \"Transaction\").Greg Davis, Chief Executive Officer of Sun Peak, commented: \"We are very excited to complete the transaction with SDC and related $6.7 million financing, which will make Sun Peak the marquee exploration company in the Arabian Nubian Shield. This transaction represents a transformative milestone for the Company, and we look forward to providing further details on our 2026 exploration plans early in the new year. Sun Peak's management would like to thank the new investors and the shareholders of both Sun Peak and SDC for their strong support throughout this endeavor.\"Pursuant to the Transaction, former SDC shareholders received an aggregate of 58,065,356 common shares of the Company (the \"Sun Peak Shares\") in exchange for all SDC Shares. The Sun Peak Shares issued under the Transaction are expected to be listed and posted for trading on the TSX Venture Exchange (\"TSXV\").The Transaction required the approval of Sun Peak shareholders at a special meeting (the \"Meeting\") by a simple majority of the votes cast by the Sun Peak shareholders, excluding the votes cast by certain persons, under the policies of the TSXV. At the Meeting, held on December 1, 2025, a total of 53,830,685 Sun Peak Shares, representing 61.8% of the issued and outstanding Sun Peak Shares, were voted, and 100% of the votes cast, excluding the votes cast by certain persons, were in favour of the Transaction.Further details regarding the Transaction are set out in Sun Peak's management information circular dated November 3, 2025, in connection with the Meeting, which is available on the Company's SEDAR+ profile at www.sedarplus.ca.Conversion of Subscription ReceiptsIn connection with the Transaction, Sun Peak completed a subscription receipt offering for gross proceeds of $6,668,622.10, comprised of 16,032,470 subscription receipts (th...