M&A / Property

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

By The Northwire Desk — AI Analysis Dec 16, 2025 · 19:45 MTB · 0.025 MTB Metals Corp.

MTB · Price

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.

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.

(No direct quotes were provided in the release.)

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