MTB Metals Announces Securityholder and Court Approval for Plan of Arrangement With ExGen Resources

Executive Summary

• Shareholders and option‑holders of MTB Metals Corp. voted overwhelmingly (>94%) to approve the previously announced plan of arrangement with ExGen Resources Inc.
• The Supreme Court of British Columbia issued a final order approving the arrangement, allowing ExGen to acquire 100% of MTB’s issued and outstanding securities on a share‑exchange basis (0.286 ExGen common shares per MTB share).
• Subject to customary closing conditions—including TSX Venture Exchange approval—the transaction is expected to close on December 19, 2025, after which MTB’s TSXV listing will be terminated.

Key Details

• Vote Results: 94.31% of shareholder votes and 94.52% of securityholder votes approved the special resolution authorizing the arrangement.
• Court Approval: Final order from the Supreme Court of British Columbia received on December 16, 2025, confirming legal approval of the arrangement.
• Consideration: Each MTB share will be exchanged for 0.286 of one ExGen common share (share‑exchange transaction).
• Closing Conditions: Completion contingent upon satisfaction (or waiver) of customary closing conditions and receipt of TSX Venture Exchange approval.
• Expected Closing Date: December 19, 2025, pending fulfillment of conditions.
• Post‑Closing Actions: MTB shares to be delisted from the TSXV following completion.
• MTB Project Portfolio: Two copper‑gold projects in BC’s Golden Triangle (Telegraph – 350 km² with multiple porphyry targets; Southmore – 50 km² with surface samples of 12.7% Cu and 29.4 g/t Au) plus royalties on four additional projects.
• ExGen Strategy: Project accelerator aiming to fund exploration/development via joint ventures, currently holding seven projects across Canada and the U.S.

Notable Quotes

(No direct quotes were provided in the release.)