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Financings

Patriot Resources Provides Corporate Updates

By The Northwire Desk — AI Analysis Nov 26, 2025 · 10:40 MAGA · 0.18 None
MAGA · Price

Executive Summary

  • Patriot Resources Corp. announced its 2025 Annual General and Special Meeting scheduled for December 18, 2025.
  • The board saw the resignation of Director Arthur Kwan and President/COO Chelsea Rusche; CFO Ryan Cheung was appointed to the board and Audit Committee.
  • Charlton & Company was named the new auditor, replacing Davidson & Company LLP.
  • The company completed a debt‑for‑equity conversion, converting C$388,333.08 of indebtedness into 2,157,406 common shares at C$0.18 per share, reducing outstanding debt and issuing shares subject to a four‑month hold period.

Key Details

  • Annual General & Special Meeting:
  • Date & Time: December 18, 2025, 11:00 a.m. PT
  • Location: 20th Floor, 885 West Georgia Street, Vancouver, BC

  • Materials (Notice of Meeting, Management Information Circular, etc.) to be mailed and posted on SEDAR+ by November 27, 2025.

  • Director & Management Changes:

  • Arthur Kwan resigned as director effective October 7, 2025; replaced by Ryan Cheung (CFO) effective November 12, 2025.
  • Chelsea Rusche resigned as President and COO on September 3, 2025.
  • Current directors: Fiona Keating (CEO), Dominic Stann, Quentin Mai, Ryan Cheung.

  • Fiona Keating appointed to the Audit Committee, replacing Arthur Kwan.

  • Auditor Change:

  • Charlton & Company appointed as new auditor effective November 17, 2025; will serve until re‑appointment at the upcoming meeting.

  • Former auditor Davidson & Company LLP resigned effective November 17, 2025; prior audit opinions were unmodified for FY 2023 and FY 2024.

  • Debt‑for‑Equity Settlement:

  • Approved by TSXV to reduce previously proposed share‑for‑debt terms.
  • Converted C$388,333.08 of debt owed to directors, former directors, and a former officer into 2,157,406 common shares at C$0.18 per share.
  • Shares subject to a hold period of four months + one day, expiring March 27, 2026.

  • Transaction qualifies as a “related party transaction” under MI 61‑101; reliance on valuation and minority approval exemptions because the fair market value does not exceed 25 % of market capitalization.

  • Contact: Fiona Keating, CEO – Tel: 604‑704‑8708 – Email: [email protected]

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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