FOKUS MINING CORP. ANNOUNCES RECEIPT OF INTERIM ORDER AND UPDATE REGARDING PROPOSED ACQUISITION BY GOLD CANDLE LTD.

The most recent news (March 12, 2026) confirms that Fokus Mining has received an interim court order from the Superior Court of Québec to proceed with its previously announced acquisition by Gold Candle Ltd. Under the definitive agreement, Gold Candle will acquire all outstanding shares of Fokus for $0.26 per share in cash. This represents a 33.3% premium to the closing price on February 11, 2026, and a 36.8% premium to the 10-day VWAP. A shareholder meeting is pending, with a final court hearing scheduled for April 17, 2026. The deal is expected to close in Q2 2026.

The impact is Material - Positive for shareholders seeking immediate liquidity and certainty of value. - Certainty of Value: The $0.26 all-cash consideration removes the exploration and financing risks inherent in a junior miner. - Strategic Consolidation: For the acquirer, Gold Candle, this adds the Galloway Project (1.42 Moz Au Inferred) and a massive 16,000-hectare land package along the Cadillac-Larder Lake Fault, providing "near-term optionality" for their Kerr-Addison development. - Validation: The acquisition price validates the aggressive land consolidation strategy Fokus management executed in late 2025 (acquiring Dufay and Visible Gold assets). - Financial Relief: As of Sept 30, 2025, Fokus had $1.26M in cash but was burning capital on exploration and property payments (including a $750k deferred payment due Dec 2025). This merger solves any long-term "going concern" or dilution risks.

Fokus Mining is a Quebec-based explorer focused on the Galloway Project. - Location: Abitibi region, Quebec, along the Cadillac-Larder Lake Fault. - Resource: 1.42 Moz Gold (Inferred) at 1.07 g/t Au (using $1,750/oz gold). - Recent Expansion: In late 2025, the company tripled its land position to ~16,000 hectares by acquiring the Dufay property and a portfolio of 7 properties from Visible Gold Mines.