Core Critical Metals Corp. Announces Plan of Arrangement to Spin Out the Senneville and Timmins Nickel Projects

Core Critical Metals Corp. announced on September 9, 2026, that it has filed a statutory plan of arrangement under the BC Business Corporations Act. The transaction involves spinning out the Senneville Project into a new entity, Spinco1, and the Timmins Nickel Project into another new entity, Spinco2.

Under the terms of the arrangement, each CCMC shareholder will receive one new Class A common share of CCMC, one common share of Spinco1, and one common share of Spinco2 for each CCMC share held. CCMC will retain the LMSL Project and its remaining portfolio. Spinco1 will hold the Senneville project, comprising 151 map-designated claims covering approximately 8,575 hectares in the Val-Senneville sector of Quebec. Spinco2 will hold the Timmins Nickel project, consisting of 467 claims covering approximately 10,060 hectares in the Porcupine Mining Division of Ontario.

The plan is subject to several conditions, including approval by two-thirds of shareholders at a virtual meeting scheduled for September 28, 2026, interim and final orders from the Supreme Court of British Columbia, and conditional acceptance by the TSX Venture Exchange. The record date for voting is July 30, 2026. The board of directors has recommended that shareholders vote in favor of the arrangement.

If all conditions are satisfied, the arrangement is expected to become effective in early October 2026. The company did not disclose any new capital requirements, new exploration results, or valuation and listing terms for Spinco1 or Spinco2.

Core Critical Metals Corp. (CCMC) announced a corporate restructuring and spin-off rather than an earnings release or financing event. The arrangement does not alter shareholders’ consolidated economic ownership, as they will continue to hold the same assets through three separate companies.

The restructuring allows CCMC to concentrate on the LMSL Project, which corresponds to the Lucky Mike project previously identified as the company's main active exploration asset. This shift aligns with prior management guidance from the MD&A, which indicated no further exploration was planned at Senneville, making the separation of that asset consistent with existing strategy.

A new structural development involves the spin-off of the Timmins Nickel project. While this provides shareholders with direct exposure to the nickel asset, the release did not specify whether Spinco1 or Spinco2 shares will be publicly listed or trade on the TSXV.

Market reaction was muted, with the stock moving from C$0.64 on September 8 to C$0.65 on September 9, remaining below the C$0.67 technical resistance. Near-term value creation remains unproven and depends on whether the Spinco entities can list, fund themselves, and trade at meaningful standalone valuations.

Core Critical Metals Corp. (TSXV: CCMC, OTCQB: CCMCF, Frankfurt: 1XI0) is a North American mineral acquisition and exploration company focused on critical metals. Following the proposed spin-out, the company will retain the LMSL Project and its remaining portfolio.

The most significant asset in the provided materials is the Lucky Mike Silver-Copper-Tungsten Project, located in the Nicola Mining District of British Columbia. The property consists of approximately 7,675 hectares near Teck’s Highland Valley Copper Mine. CCMC holds an option from First Atlantic Nickel to earn up to an 80% interest in the project.

Historic resource estimates for Lucky Mike indicate approximately 73.5 million tonnes at roughly 0.23% to 0.27% copper equivalent, containing approximately 373 million to 402 million pounds of copper. Historic tungsten drilling reported a weighted average of 0.312% WO3 over about 25 feet. The project is drill-ready, featuring permitted targets, road access, nearby power, and proximity to Highland Valley. These historic estimates are not NI 43-101 compliant.

Additionally, Spinco1 will hold the Senneville property in Quebec, and Spinco2 will hold the Timmins Nickel property in Ontario.