Clinch Resources begins trading on TSX

Executive Summary

• Clinch Resources Ltd. has commenced trading on the Toronto Stock Exchange (TSX) under the ticker symbol CLCH, following the completion of a reverse takeover (RTO).
• The listing coincides with the closing of a $46-million (U.S.) financing and the 38.8% indirect acquisition of JJ Resources Inc., which owns the Sewell Mountain mid-vol metallurgical coal mine in West Virginia.
• Net proceeds from the financing will be used to develop the ARI met coal project (estimated 111 million tons of measured and indicated resources) and for general and administrative expenses.

Key Details

• Listing: Common shares commenced trading on the Toronto Stock Exchange (TSX) under ticker symbol CLCH.
• Transaction Structure: The listing follows the closing of a reverse takeover (RTO), a concurrent $46-million (U.S.) financing, and a 38.8% indirect acquisition of JJ Resources Inc.
• Acquired Asset: JJ Resources Inc. owns the fully permitted 24,000-acre Sewell Mountain mid-vol metallurgical coal mine located in West Virginia.
• Financing Details:
  • Gross Proceeds: $46 million (U.S.).
  • Use of Proceeds: Development of the ARI met coal project, general and administrative expenses, and working capital.
• Project Assets (ARI):
  • Location: West Virginia. Acreage: Approximately 54,000 acres.
  • Resource Estimate: Approximately 111 million tons of measured and indicated mineral resources.
    • Measured Resources: ~64 million tons.
    • Indicated Resources: ~47 million tons.
  • Status: Extensive drill history and verified geological continuity.
• Strategic Context: Management cites tight supply due to permitting constraints, strong global demand, and the addition of met coal to the U.S. Department of Interior's critical mineral list (November 2025) as key market drivers.

Notable Quotes

• "We are excited to complete the RTO and concurrent offering and to become a public entity by listing our shares on the TSX," said Clinch chief executive officer Jon Nix.
• "It is exciting to be the newest met coal producer in the U.S. at a time where the commodity has gone from targeted to protected," said Clinch executive vice-president of capital development and investor relations Robert Gaylor.