Iocaste receives conditional TSX-V OK for TenX QT

Executive Summary

• Iocaste Ventures Inc. and TenX Protocols Inc. have received conditional acceptance from the TSX Venture Exchange (TSX-V) for a qualifying transaction, which constitutes a reverse takeover of Iocaste by TenX.
• The transaction involves a three-cornered amalgamation under the Business Corporations Act (Ontario), resulting in TenX shareholders acquiring control of the company, which will be renamed TenX Protocols Inc.
• The resulting entity will focus on vertically integrated digital asset staking, including in-house validator operations and a forthcoming third-party staking platform.

Key Details

• Transaction Structure: The qualifying transaction is completed via a three-cornered amalgamation involving Iocaste Ventures, TenX Protocols, and a wholly owned subsidiary of Iocaste created specifically for this purpose.
• Regulatory Status: The parties received conditional acceptance from the TSX-V and have filed a filing statement dated November 25, 2025, in accordance with TSX-V requirements. The statement is available on SEDAR+.
• Post-Transaction Operations: Following the reverse takeover, the issuer will carry on the current business of TenX. The primary business focus is vertically integrated staking, combining digital asset staking, in-house validator operations, and a forthcoming staking platform for third-party participation.
• Ticker Symbol: Common shares of the resulting issuer are expected to trade on the TSX-V under the ticker symbol "TNX" shortly after closing.
• Closing Date: Assuming all conditions are satisfied, closing is expected to occur on or about December 2, 2025.
• Conditions Precedent: Completion is subject to customary closing conditions, including receipt of all required regulatory approvals and final TSX-V acceptance.

Notable Quotes

• None provided in the text.