ExGen Resources Completes Acquisition of MTB Metals

Core Viewpoint - ExGen Resources Inc. has successfully completed the acquisition of MTB Metals Corp. through a court-approved plan of arrangement, marking a significant milestone for ExGen as it aims to establish itself as an emerging royalty company in the market [1][2]. Transaction Details - ExGen acquired 100% of the issued and outstanding common shares of MTB, with an exchange ratio of 0.286 ExGen Shares for each MTB Share, resulting in 109,149,808 issued and outstanding ExGen Shares post-transaction [3]. - All outstanding stock options and warrants of MTB have been adjusted to reflect the exchange ratio, allowing holders to receive ExGen Shares under the same terms as the original MTB securities [4]. Approval and Delisting - The acquisition received approval from MTB's securityholders on December 11, 2025, and was finalized by the Supreme Court of British Columbia on December 16, 2025 [5]. - MTB Shares are expected to be delisted from the TSX Venture Exchange around December 23, 2025, and ExGen plans to apply for MTB to cease being a reporting issuer [6]. Shareholder Actions - MTB shareholders are required to submit completed letters of transmittal and relevant certificates to Endeavor Trust Corporation to finalize the exchange of shares [7]. Management Changes - Following the acquisition, Mark T. Brown, a former director of MTB, has been appointed as a director of ExGen [8]. Early Warning Reporting - ExGen is obligated to file an early warning report due to its acquisition of MTB Shares, which will be available on SEDAR+ [9]. Company Background - ExGen is focused on funding exploration and development through joint ventures, aiming to build a diverse portfolio of projects across various stages and commodities, currently holding seven projects in Canada and the US [10]. - MTB is advancing two copper-gold projects in the Golden Triangle of northern British Columbia, with significant mineral occurrences reported [11][12].