Cornish Metals Obtains Final Order for Plan of Arrangement

Core Viewpoint - Cornish Metals Inc. has received court approval for its re-domicile to the United Kingdom, facilitating the transfer of shares to a new entity, Cornish Metals plc, as part of a statutory plan of arrangement [1][2][3]. Group 1: Company Structure and Share Exchange - The arrangement involves exchanging one Cornish UK Share for every ten Cornish Canada Shares held, with rounding down to the nearest whole number [2]. - Shareholders with fewer than ten Cornish Canada Shares will receive no Cornish UK Shares [2]. - The transaction is expected to close around December 16, 2025, after satisfying customary closing conditions [3]. Group 2: Project Overview - Cornish Metals is advancing the South Crofty tin project, which is a historical underground tin mine in Cornwall, UK, and is the highest grade known tin resource not currently in production [6]. - The project is permitted for underground mining until 2071 and includes plans for a new processing facility and necessary site infrastructure [6]. - The South Crofty project could potentially be the first primary tin producer in Europe or North America, addressing the critical mineral demand as defined by various governments [6]. Group 3: Community and Economic Impact - The project is expected to generate over 300 direct jobs and has strong support from local communities and government [6].