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M&A / Property

American Pacific Provides Update on Plan of Arrangement with ICG Silver & Gold Ltd. and Completes Share Payments to Three Former Employees

By The Northwire Desk — AI Analysis Jan 12, 2026 · 07:01 USGD · 0.2 American Pacific Mining Corp.
USGD · Price

Executive Summary

  • American Pacific Mining Corp. (“APM”) announced a definitive arrangement to sell its Tuscarora and Danny Boy projects to ICG Silver & Gold Ltd. in exchange for 11,500,000 ICG common shares, with a contingent US$5 million payment upon commercial production.
  • APM will distribute 7,500,000 of those ICG shares to its shareholders on a pro‑rata basis (≈0.034 ICG share per APM share) and retain the remaining 4,000,000 shares.
  • The arrangement is subject to shareholder, court and regulatory approvals; closing is expected in late February 2026, with an annual general and special meeting scheduled for February 18 2026 to seek shareholder approval.

Key Details

  • Transaction Structure: Sale of 100% of Tuscarora and Danny Boy projects via acquisition of two wholly‑owned APM subsidiaries by ICG.
  • Consideration:
  • 11,500,000 ICG common shares issued to APM (each an “ICG Consideration Share”).
  • Contingent cash payment of US$5 million payable by ICG to APM upon either project reaching commercial production.
  • Share Distribution to APM Shareholders:
  • 7,500,000 ICG shares will be distributed on a pro‑rata basis (≈0.034 ICG share per APM share).
  • Remaining 4,000,000 ICG shares retained by APM.
  • Meeting Details:
  • Annual General and Special Meeting set for February 18 2026.
  • Record date for meeting notice/voting: January 2 2026.
  • Shareholders will vote on the Arrangement among other routine matters.
  • Approvals & Timing:
  • Subject to shareholder, court and regulatory approvals, including conditional CSE approval of ICG listing.
  • Expected closing in late February 2026; further updates will be provided as available.
  • Employee Issuance (Ancillary):
  • Issued 1,281,722 common shares at a deemed price of $0.175 to former employees, satisfying employment‑related liabilities of $224,301.35.
  • Shares subject to statutory hold period expiring May 13 2026.

Notable Quotes

No direct quotes were included in the release.

Read the original news release →

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