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LUN 33.59 −2.5% NTR 94.27 −1.8% LALI 0.055 −8.3% SCD 0.170 +0.0% HWY 0.370 +0.0% FCI 0.385 +1.3% GGAU 0.180 −5.3% KIRO 0.650 +1.6% LBNK 0.430 +0.0% BARU 0.040 +0.0% VCU 1.09 −4.4% NOBL 0.095 −5.0% SHL 0.355 +0.0% MTS 0.130 +0.0% FYL 0.090 +0.0% NUAG 5.55 +1.8% LUN 33.59 −2.5% NTR 94.27 −1.8% LALI 0.055 −8.3% SCD 0.170 +0.0% HWY 0.370 +0.0% FCI 0.385 +1.3% GGAU 0.180 −5.3% KIRO 0.650 +1.6% LBNK 0.430 +0.0% BARU 0.040 +0.0% VCU 1.09 −4.4% NOBL 0.095 −5.0% SHL 0.355 +0.0% MTS 0.130 +0.0% FYL 0.090 +0.0% NUAG 5.55 +1.8%
M&A / Property

Intrepid chairman, CEO Morabito to step down

By The Northwire Desk — AI Analysis Mar 30, 2026 · 16:53 INTR · 0.64 Intrepid Metals Corp.
INTR · Price

Executive Summary

  • Intrepid Metals Corp. announced a leadership transition where founder Mark J. Morabito steps down as Chairman and CEO, succeeded by Matt Lennox-King as Interim CEO and Chairman, with Dan Barnholden joining the board.
  • The transition follows significant strategic validation, specifically the acquisition of an approximately 14.7% equity stake in Intrepid by Teck Resources Ltd. through investments in December 2025 and February 2026.
  • The company also announced the granting of one million incentive stock options to executives/directors as part of the transition and compensation structure.

Key Details

  • Leadership Changes:
    • Mark J. Morabito steps down as Chairman and CEO; he will remain as a strategic adviser to the board.
    • Matt Lennox-King joins the board and assumes the roles of Interim CEO and Chairman.
    • Dan Barnholden appointed to the board of directors.
  • Strategic Investment (Teck Resources Ltd.):
    • Teck Resources acquired an approximately 14.7% ownership position in Intrepid.
    • Initial strategic equity position acquired in December 2025.
    • Ownership increased through participation in a February 2026 non-brokered financing at a higher price.
    • Teck received expanded strategic rights associated with the investment.
  • Option Grants:
    • Aggregate of 1,000,000 incentive stock options granted.
    • Exercise price: $0.49 per share.
    • Term: 5 years.
    • Vesting schedule: Quarterly over a 12-month period.
  • Company Background:
    • Focus on high-grade essential metals (copper, silver, zinc) in southeastern Arizona.
    • Anchored by the Corral copper project, an advanced exploration-stage, district-scale system.
    • Trades on TSX Venture Exchange (INTR) and OTCQB (IMTCF).

Notable Quotes

  • Mark J. Morabito: "Intrepid has reached an important inflection point. Over the past six years, we have built a district-scale copper platform in one of the most established jurisdictions in the United States and secured strategic investment from a global mining leader. With that foundation in place, I believe this is the appropriate time to transition leadership and position the company for its next phase of development."
Read the original news release →

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