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Gold 4,031.40 −0.5% Silver 52.22 −2.7% Copper 6.59 −1.2% Oil 102.00 −0.8% Palladium 1,003.50 −1.0% NGEX 21.53 −1.3% CG 28.52 −3.7% PPX 0.220 −8.3% CS 11.77 −2.1% EMO 0.295 +0.0% IPT 0.225 +0.0% TECK 89.22 +1.3% SLG 5.95 +0.8% FT 0.095 +2.7% SGQ 0.330 +6.5% AUAU 0.440 +6.0% FVL 0.830 −2.4% AYA 34.15 −3.3% SNAG 0.210 −2.3% GLDC 0.300 −3.2% SCZ 10.09 −4.0% Gold 4,031.40 −0.5% Silver 52.22 −2.7% Copper 6.59 −1.2% Oil 102.00 −0.8% Palladium 1,003.50 −1.0% NGEX 21.53 −1.3% CG 28.52 −3.7% PPX 0.220 −8.3% CS 11.77 −2.1% EMO 0.295 +0.0% IPT 0.225 +0.0% TECK 89.22 +1.3% SLG 5.95 +0.8% FT 0.095 +2.7% SGQ 0.330 +6.5% AUAU 0.440 +6.0% FVL 0.830 −2.4% AYA 34.15 −3.3% SNAG 0.210 −2.3% GLDC 0.300 −3.2% SCZ 10.09 −4.0%
M&A / Property

Seva Mining Corp. Announces Completion of Acquisition of Cameron Gold Project and Resumption of Trading

By The Northwire Desk — AI Analysis Mar 10, 2026 · 21:17 SEVA · 0.26 Seva Mining Corp.
SEVA · Price

Executive Summary

  • Seva Mining Corp. (formerly Oronova Energy Inc.) completed a reverse takeover transaction to acquire a 100% interest in the Cameron Gold Project from First Mining Gold Corp. (FMGC) via a three-cornered amalgamation.
  • The company has changed its name to Seva Mining Corp., received new CUSIP/ISIN numbers, and is scheduled to resume trading on the TSX Venture Exchange on March 18, 2026, under the ticker "SEVA" as a Tier 1 Mining Issuer.
  • FMGC received 80,000,000 Common Shares as consideration, representing approximately 47.85% of the issued and outstanding shares, which are subject to a Tier 1 Value Security Escrow Agreement with staged releases over 18 months.

Key Details

  • Transaction Structure: Completed via a three-cornered amalgamation under the Business Corporations Act (Ontario). Seva incorporated a subsidiary (FinCo) which amalgamated with SubCo (owner of Cameron Project, a wholly owned subsidiary of FMGC) to form Amalco, now a wholly owned subsidiary of Seva.
  • Consideration: 80,000,000 Common Shares issued to First Mining Gold Corp. (FMGC).
  • Escrow Terms: Consideration Shares placed in escrow; 25% released upon issuance of final TSXV bulletin, with remaining shares released in 25% increments at 6, 12, and 18 months post-issuance.
  • Early Warning Disclosure: FMGC holds ~47.85% of issued and outstanding Common Shares immediately post-transaction.
  • Incentive Options: 12,825,000 incentive stock options granted to directors, officers, and consultants at an exercise price of $0.26 per share. Vesting schedule: 25% on grant date, additional 25% every six months thereafter, expiring March 9, 2036. Resale restrictions apply until July 10, 2026.
  • Cameron Gold Project Resource (NI 43-101, effective Feb 26, 2026):
    • Measured & Indicated: 515,000 ounces (6,564,000 tonnes at 2.44 g/t Au).
    • Inferred: 740,000 ounces (10,559,000 tonnes at 2.18 g/t Au).
    • Total Contained Gold: Over 1.25 million ounces.
    • Drilling: Supported by 118,810 metres of drilling.
    • Cut-offs: Conceptual open pit shell (0.33 g/t Au) and underground stope shapes (1.25 g/t Au) based on US$2,600/oz gold price.
  • Future Exploration: Seva has a 25,000 metre drill program planned, with Phase 1 targeting 6,000 metres to grow and upgrade the resource.
  • Financial Position: Company enters public markets debt-free with a current EV/oz of C$29.58.
  • Name Change: Effective March 9, 2026, changed from "Oronova Energy Inc." to "Seva Mining Corp."
  • New Identifiers: CUSIP 81783A100, ISIN CA81783A1003.

Notable Quotes

  • "Seva is a company committed to building social capital in the communities we get to partner alongside, supported by an exceptional team focused on creating shareholder value." — Mr. Ranj Pillai, CEO of Seva Mining
Read the original news release →

More from Seva Mining Corp.

Jul 14, 2026 · 07:01

Seva begins upgrading the Cameron access road to facilitate upcoming summer drilling at its project.

Production / Operations Dec 19, 2025 · 17:10

Oronova Energy closes $15-million private placement

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