BWR Exploration Inc. and Electro Metals and Mining Inc. Shareholders Approve Amalgamation and Provide Financing Update

Core Viewpoint - BWR Exploration Inc. and Electro Metals and Mining Inc. have received shareholder approval for a proposed amalgamation involving a Reverse Takeover of BWR by Electro, expected to close around January 31, 2026 [1][7]. BWR Voting Results - A total of 32,800,400 common shares of BWR were represented at the AGM, accounting for approximately 29.68% of the 110,510,461 common shares outstanding [2]. - Shareholders voted 100% in favor of several resolutions, including the amalgamation, appointment of auditors, election of directors, and other corporate actions [3]. Electro Voting Results - Shareholders holding 29,319,119 common shares of Electro attended the AGM, representing about 76% of the 38,530,869 common shares outstanding [4]. - The shareholders also voted in favor of the amalgamation and other corporate actions, including the appointment of auditors and election of directors [4]. Concurrent Financing Update - Electro has closed the first tranches of a Concurrent Financing, issuing 777,689 FT Units for gross proceeds of $202,199 and 635,000 HD Units for gross proceeds of $127,000 [5]. - The financing aims to raise between $1.6 million and $2.25 million through FT Units priced at $0.26 and between $1.6 million and $1.75 million through HD Units priced at $0.20 [6]. Expected Closing of Transaction - The transaction is anticipated to close on or about January 31, 2026, alongside the closing of the Concurrent Financing, with free trading shares to be issued in the new company, Electro Metals Corp [7]. Transaction Terms - Under the transaction terms, BWR will issue one post-consolidation BWR share for each Electro share, implying a share price of $0.021 for each pre-consolidation BWR share [8]. Company Profiles - BWR Exploration Inc. is a Tier 2 junior exploration company with three early-stage exploration properties in Canada, requiring further exploration to meet current reporting standards [10]. - Electro Metals and Mining Inc. is a privately held company focused on the acquisition and exploration of precious and critical metals in Québec, with significant mineralization claims [11].