Antler Hill Mining Ltd. Enters into Letter of Intent with Olympic Metals Ltd. to Complete Qualifying Transaction

Executive Summary

• Antler Hill Mining Ltd. (TSXV: AHM.H) announced a non‑binding Letter of Intent to combine with Olympic Metals Ltd., a copper development company focused on the Pukaqaqa Copper Project in Peru.
• The proposed transaction will involve consolidation of Antler Hill shares into “Resulting Issuer Shares” and an exchange of Olympic’s shares for the same resulting shares, with exact ratios to be determined.
• Prior to closing, Olympic intends to complete private placements (“Concurrent Financings”) to raise a minimum of $30 million in gross proceeds; these securities will automatically convert into Resulting Issuer Shares upon transaction completion.

Key Details

• Letter of Intent (LOI): Dated November 19, 2025, between Antler Hill and Olympic Metals outlining intent to complete the Transaction via share purchase, plan of arrangement, amalgamation, or alternative structure.
• Consolidation Mechanics: One “new” common share (Resulting Issuer Share) will be issued for a yet‑to‑be‑determined number of existing Antler Hill shares; each Olympic share will also be exchanged for one Resulting Issuer Share at a ratio to be set later.
• Concurrent Financings:
• Minimum aggregate gross proceeds: $30,000,000.
• Structure and terms to be set based on market conditions at the time of financing.
• Expected to close before the Transaction’s closing date.
• Securities issued will automatically convert into Resulting Issuer Shares under the same terms as existing Olympic shares.
• Conditions Precedent: Completion of the Transaction is subject to:
  1. Board approvals from both Antler Hill and Olympic.
  2. Satisfactory due‑diligence completion.
  3. Execution of a definitive agreement.
• Regulatory & Shareholder Approvals:
• No shareholder approval currently anticipated under TSX Venture Exchange rules, but corporate law or securities law may require it; a shareholders’ meeting could be called for consolidation, new stock option plan, board elections, etc.
• Trading of Antler Hill’s common shares remains halted until the Transaction is completed or the exchange receives documentation to resume trading.
• Future Disclosure: A more detailed news release will follow once:
• Boards approve the deal, due‑diligence is satisfactory, and a formal agreement is executed.
• Information on Olympic’s financials, Concurrent Financing terms, insider identities, sponsorship details, and any required shareholder approvals are available.
• Contact Persons:
• Ali Haji – Director, Antler Hill Mining Ltd. ([email protected])
• Aneel Waraich – CEO, Olympic Metals Ltd. ([email protected])

Notable Quotes

(No direct quotes were provided in the release.)