Shareholders of Clean Air Metals and Fiore-Backed Springbok Ventures Overwhelmingly Approve Proposed Transaction

Clean Air Metals Inc. and Springbok Ventures Inc. received overwhelming shareholder approval, with approximately 100% of votes cast, for a proposed three-cornered amalgamation on November 13, 2026. Under the terms of the transaction, Springbok and a wholly-owned subsidiary of Clean Air Metals, designated as Newco, will amalgamate, with Newco continuing as a wholly-owned subsidiary of Clean Air Metals. Springbok shareholders will receive 0.9 of a post-consolidation Clean Air Metals common share for each Springbok common share held.

Prior to the closing, Clean Air Metals will execute a 10-for-1 share consolidation and change its name to "Dante Metals Corp." The transaction is expected to close on or about November 20, 2026, subject to final acceptance by the TSX Venture Exchange and satisfaction of remaining conditions precedent.

Springbok's principal asset is the Maude Lake Property in Ontario, which comprises approximately 2,017 hectares and hosts nickel-copper-platinum (PGE) sulphide mineralization. Clean Air Metals' flagship Thunder Bay North (TBN) 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.

Clean Air Metals Inc. (AIR) has secured shareholder approval for its previously announced business combination, a procedural milestone that removes the final execution risk for the deal. The market was already aware of the deal structure, exchange ratio, and concurrent financing, making this a routine development rather than a surprise catalyst.

The approval validates the strategic rationale of combining TBN's PGM-copper-nickel resource with Springbok's Maude Lake property, backed by the Fiore Group's capital markets and mine-building expertise. Administrative changes include a 10-for-1 share consolidation and a rebranding to Dante Metals Corp., designed to improve post-closing liquidity, market perception, and compliance with TSX-V listing standards.

Financial terms remain unchanged from prior announcements. The $6.17M private placement closed in September 2026 directly funds the amalgamation and provides immediate working capital, addressing the previously reported $3.19M deficiency. No new operational, geological, or financial surprises are present, as the news aligns perfectly with the July 31, 2026 announcement and subsequent financing updates.

Clean Air Metals Inc. is a Canadian critical minerals explorer focused on the Thunder Bay North (TBN) Critical Minerals Project in Northwestern Ontario. The company’s flagship assets include the Current and Escape deposits, which host 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 at 2,500 tpd, with a base-case pre-tax NPV8 of C$219.4M and an IRR of 39%. Sensitivity analysis at higher spot prices, based on January 2026 levels, shows a pre-tax NPV8 of $708M and an IRR of 100%. The development strategy emphasizes toll-milling or a stand-alone mill, advanced exploration permitting, and early infrastructure design with First Nations communities.

The proposed amalgamation with Springbok Ventures adds the Maude Lake Property, comprising approximately 2,017 hectares. This transaction expands the company's land package and metal portfolio to include nickel and additional PGEs.