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Transition Metals Vests 100% Interest in Pike Warden Property; Announces $1M Financing
Sudbury, Ontario--(Newsfile Corp. - March 2, 2026) - Transition Metals Corp. (TSXV: XTM) ("Transition", "the Company"), is pleased to announce that it has veste
About this update from Transition Metals Corp.
[{"type":"text","content":" Sudbury, Ontario--(Newsfile Corp. - March 2, 2026) - Transition Metals Corp. (TSXV: XTM) (\"Transition\", \"the Company\"), is pleased to announce that it has vested a 100% interest in the Pike Warden property, a porphyry-epithermal exploration asset located in southern Yukon. This acquisition consolidates the Company's control over the property and positions it for continued exploration activities and partnering opportunities. The Company will seek a partner to more aggressively explore the large mineralized system opportunity. \"This acquisition represents an important step in expanding Transition Metals' portfolio of high-quality exploration assets,\" said Scott McLean, CEO of Transition Metals. \"The Pike Warden property has strong exploration potential, and the work carried out by Transition to date has identified over 30 high grade Au-Ag epithermal and Cu-Mo porphyry showings, which together with the geophysical and mapping data demonstrate a large porphyry and epithermal mineralizing system.\" Terms of Vesting The project was optioned from a local geologist in 2022 (see news release dated June 28, 2022). The Company has vested its interest by paying the Optionor $120,000, issuing 1,000,000 shares, and spending $1,000,000 in exploration over the four-year period. The Optionor retains a 1% Net Smelter Return royalty on the Property. Financing The Company is pleased to announce that it intends to raise up to $1,000,000 by way of a non-brokered private placement consisting of up to 8,695,652 Charity Flow Through Units (the \"CFU\") at a price of $0.115 per CFU. The initial Purchasers of the CFU may subsequently donate such CFU to registered charitable organizations, who may in turn choose to sell such CFU Units (the \"Re-Offered Units\") to purchasers at a price of $0.08 per Re-Offered Unit (the \"Re-Offer Price\") or sell such Re-Offered Units to purchasers at the Re-Offer Price. The Company will not be a party to any such arrangements. The Re-Offered Units will consist of a common share and a half warrant. Each full warrant entitles the investor to purchase a common share in the Company at any time for $0.115 for a period of 18 months. A finder's fee may be paid in connection with the Offering to finders, as determined by mutual agreement between the Corporation and the finders and subject to regulatory approval. The ...