Clean Air Metals and Fiore-Backed Springbok Ventures Announce Conditional Acceptance of Proposed Transaction

Clean Air Metals Inc. (AIR) has received conditional acceptance from the TSX Venture Exchange (TSXV) for its proposed amalgamation with Springbok Ventures Inc. The exchange reclassified the transaction from a reverse takeover under Policy 5.2 to an acquisition under Policy 5.3, which simplifies the listing framework for the deal.

The transaction is structured as a three-cornered amalgamation in which Springbok shareholders will receive 0.9 post-consolidation Clean Air Metals shares for each share held. Corporate changes accompanying the deal include a name change to Dante Metals Corp. and a 10-for-1 share consolidation scheduled to occur immediately prior to closing.

Concurrent financings have been detailed, including a September 2026 placement that raised approximately C$6.17 million and an October 2026 placement that raised C$150,000. Proceeds from these financings are being held in escrow until the closing of the transaction. Shareholder meetings for both entities are scheduled for November 13, 2026, with a management webinar set for October 21, 2026.

Clean Air Metals Inc. (AIR) has received conditional acceptance from the TSXV, a procedural milestone that removes the reverse takeover classification from the transaction. This reclassification eliminates the higher scrutiny and negative investor sentiment typically associated with reverse takeovers, materially improving the path to final approval. The deal integrates Springbok's Maude Lake property, which hosts Ni-Cu-PGE sulphides, and the Fiore Group's mine-building expertise into the combined entity, diversifying the asset base beyond Thunder Bay North. Concurrent financings totaling approximately C$6.3M address the company's working capital deficiency and fund near-term exploration, reducing immediate dilution risk post-closing.

Clean Air Metals Inc. (AIR) is a junior explorer advancing the Thunder Bay North Critical Minerals Project in Northwestern Ontario. The company’s flagship project hosts the Current and Escape deposits, which contain a 14.9 Mt indicated mineral resource grading 2.66 g/t Pt+Pd, 0.40% Cu, and 0.24% Ni.

A Preliminary Economic Assessment (PEA) outlines an 11-year mine life with a pre-tax NPV8 of C$219.4M and an IRR of 39% at base-case pricing. Sensitivity analysis shows NPV8 rising to $708M at higher spot prices. The proposed transaction adds Springbok's Maude Lake property, comprising approximately 2,017 hectares of Ni-Cu-PGE sulphides, and leverages the Fiore Group's capital markets and technical expertise.