Business
Selkirk Copper Announces Closing of The Selkirk First Nation Investment
Vancouver, British Columvbia and Pelly Crossing, Yukon--(Newsfile Corp. - May 25, 2026) - Selkirk Copper Mines Inc. (TSXV: SCMI) (FSE: IO20) (OTCQB: SKRKF) ("Selkirk Copper" or the "Company") is pleased to announce that it has closed a further investment by Selkirk First Nation (the "Selkirk First Nation Investment") for aggregate gross proceeds of C$500,250 pursuant to a private placement of 435,000 common shares (the "Common Shares") to 843094 Yukon Inc., a corporation wholly owned by Selkirk.
About this update from Selkirk Copper Mines Inc.
[{"type":"text","content":"Vancouver, British Columvbia and Pelly Crossing, Yukon--(Newsfile Corp. - May 25, 2026) - Selkirk Copper Mines Inc. (TSXV: SCMI) (FSE: IO20) (OTCQB: SKRKF) ("Selkirk Copper" or the "Company") is pleased to announce that it has closed a further investment by Selkirk First Nation (the "Selkirk First Nation Investment") for aggregate gross proceeds of C$500,250 pursuant to a private placement of 435,000 common shares (the "Common Shares") to 843094 Yukon Inc., a corporation wholly owned by Selkirk First Nation, at a price of $1.15 per Common Share. The investment was completed in connection with the exercise of Selkirk First Nation's pro rata participation right under its existing agreement with the Company.","length":758,"tagName":"p"},{"type":"text","content":"The Company intends to use the proceeds from the Selkirk First Nation Investment to advance development of the Company's Minto copper-gold-silver project, as well as for working capital and general corporate purposes.","length":221,"tagName":"p"},{"type":"text","content":"The Common Shares issued pursuant to the Selkirk First Nation Investment were issued on a private placement basis and are subject to a statutory hold period of four months and one day from the date of closing in accordance with applicable securities laws.","length":255,"tagName":"p"},{"type":"text","content":"Selkirk First Nation is considered an insider of the Company under applicable securities laws, and as such the Selkirk First Nation Investment is considered a "related party transaction" pursuant to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that the fair market value of the aggregate participation of the insiders in the First Nation Investment does not exceed 25% of the market capitalization of the Company, as determined in accordance with MI 61-101. The Company did not file a material change report more than 21 days before the expected closing of the First Nation Investment because the exercise by Selkirk First Nation of its pro rata participation righ...