Future Mineral Delivers Potentially Transformational Transaction with Agreement to Acquire 100% Ownership of High-Grade Nickel-Zinc-Lead Project in Poland; Amends $4.5m Financing Terms
Executive Summary
- Future Mineral Resources Inc. entered a Share Purchase Agreement to acquire the remaining 52 % ownership of its flagship Szklary‑Dabrowka polymetallic project in Poland, completing 100 % control of the asset.
- The acquisition price is $2.6 million payable to the Vendors plus a 36‑month operating agreement at $50,000 per month.
- Concurrently, Future Mineral amended its private placement offering to raise up to $4.5 million (15 M common shares at $0.30 each) with all warrants removed; proceeds may be used partially to fund the acquisition.
Key Details
- Acquisition Structure
- Purchase of 100 % of issued and outstanding shares of Forbes EV Metals Inc. (the “Target”), which owns 52 % of Ferrite Resources Polska sp. z o.o. (“Ferrite Polska”).
- Total cash consideration: $2.6 million payable at closing.
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Additional operating agreement with Forbes & Manhattan, Inc.: $50,000 per month for 36 months.
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Closing Conditions
- Subject to customary conditions precedent, including TSX approval, completion of the amended private placement, legal opinions, and title verification.
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Expected closing: early 2026 (subject to satisfaction of conditions).
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Project Overview – Szklary Nickel & Dabrowka Zinc‑Lead
- Historic production: 3.5 Mt at 1–2.5 % Ni; historic JORC inferred resource 16.8 Mt @ 0.60 % Ni (≈94,000 t Ni).
- Existing infrastructure: two operating smelters within 20 km, road/rail access, shaft to ~90 m depth at Dabrowka.
- Planned drilling: ~30 confirmatory holes at Szklary; 27 drill holes at Dabrowka (total ≈57 new holes) to validate and expand historic estimates.
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Licenses for both claims set to expire March/April 2026; renewal process already initiated.
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Private Placement Amendment (“Amended Offering”)
- Up to 15 M common shares at $0.30 per share → gross proceeds up to $4.5 M.
- All warrants (including finder warrants) removed from the offering.
- Expanded use of net proceeds: may be applied, in whole or in part, to satisfy the acquisition purchase price (subject to closing conditions).
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Other terms unchanged from the original January 7 2026 private placement.
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Financial Snapshot of Target
- Ferrite Polska liabilities ≈ €911,000 (≈ €800,000 owed to Forbes).
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No other material assets, profits, or losses reported; financials unaudited.
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Related‑Party Considerations
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An officer and a director hold 4.5 % of the Target’s securities; transaction qualifies as a “related party transaction” under MI 61‑101 with reliance on applicable exemptions.
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Qualified Person Review
- Technical information reviewed and approved by Dr. Andreas Rompel, Pr.Sci.Nat, FSAIMM (Vendor and Company director), qualified under NI 43‑101.
Notable Quotes
“The completion of this acquisition will give Future Mineral full strategic control over one of Europe’s most compelling polymetallic assets at a time when base‑metal markets are strengthening,” – Fred Leigh, CEO, Future Mineral Resources Inc.
All forward‑looking statements are subject to risks and uncertainties detailed in the release.