Eagle Royalties seeks shareholder OK for RTO by Summit

Executive Summary

• Eagle Royalties Ltd. filed a Management Information Circular for its annual and special shareholders’ meeting on Oct. 30, 2025, to seek approval of a reverse‑takeover transaction with Summit Royalty Corp. and 1001280658 Ontario Inc. (Newco).
• The proposed three‑cornered amalgamation will result in a reverse takeover by Summit, creation of a new issuer named Summit Royalties Ltd., a one‑for‑five share consolidation, name change, board reorganization, adoption of a new omnibus incentive plan, and auditor change.
• If approved, Eagle’s shares are expected to be delisted from the Canadian Securities Exchange in November 2025 and the combined entity’s shares will commence trading on the TSX Venture Exchange under the symbol SUM.

Key Details

• Meeting Information: Annual and special shareholders’ meeting scheduled for Oct. 30, 2025 at 10 a.m. Calgary time (Cranbrook, B.C.).
• Transaction Approval Required: Ordinary resolution to authorize the fundamental change (reverse takeover) as defined by the Canadian Securities Exchange.
• Amalgamation Structure: Eagle Royalties Ltd., Summit Royalty Corp., and Newco (wholly owned subsidiary of Eagle) will amalgamate under an agreement dated June 30, 2025, resulting in a reverse takeover of Eagle by Summit.
• Resulting Entity: Expected name – Summit Royalties Ltd.
• Share Consolidation: One‑for‑five consolidation of Eagle’s common shares.
• Corporate Actions to be Approved:
• Name change to Summit Royalties Ltd.
• Board reorganization.
• Adoption of a new omnibus incentive plan.
• Auditor change.
• Board Recommendation: Unanimous recommendation from Eagle’s board for shareholders to vote in favor of the resolutions.
• Distribution of Materials:
• Mailing commenced; registered shareholders receive materials by courier.
• Beneficial shareholders advised to access materials electronically due to Canada Post strike.
• Voting instructions available via Internet, email ([email protected]), or fax (403‑668‑8307).
• Proxy Deadline: 10 a.m. Calgary time on Oct. 28, 2025.
• Trading Halt: Eagle’s common shares remain halted on the Canadian Securities Exchange pending transaction closure and delisting.
• Expected Closing: November 2025, subject to shareholder approval and regulatory consents.
• Post‑Closing Listing: Shares of Summit Royalties Ltd. anticipated to list on the TSX Venture Exchange (symbol SUM) after required approvals.

Notable Quotes

(No direct quotes provided in the release.)