Prismo Metals to Advance Hot Breccia Toward Drilling Through Strategic Transaction

Core Viewpoint - Prismo Metals Inc. has entered into a definitive assignment agreement with Blade Resources Inc. to assign its rights in the Hot Breccia copper project, positioning itself as Blade's largest shareholder with a significant stake in the company [1][2]. Transaction Details - Prismo will receive 6,755,000 common shares of Blade and a cash payment of $185,000, resulting in approximately 24% ownership of Blade's issued shares [2]. - The transaction is expected to close around March 2, 2026, or at a mutually agreed date [1]. Strategic Rationale - The transaction allows Prismo to leverage its investment in Hot Breccia into a substantial stake in Blade, which is focused on advancing the project [4]. - It provides enhanced access to capital for the Hot Breccia drill program through Blade, minimizing direct dilution for Prismo shareholders [4]. - Prismo will concentrate on its other Arizona projects, Silver King and Ripsey Gold, while Blade focuses on Hot Breccia [5]. - Blade's potential for 100% ownership of Hot Breccia may enhance its attractiveness to major strategic partners or buyers [5]. Investment Perspective - Prismo views its investment in Blade as having multiple potential pathways, including long-term holding, partial monetization, or distribution of shares to its shareholders [6]. - Successful development at Hot Breccia is expected to significantly impact shareholder value [6]. Additional Rights - Prismo has the right to nominate one representative to Blade's board of directors and has been granted participation rights in future equity offerings to maintain its ownership percentage [7]. Project Background - The Hot Breccia project is located in the Arizona Copper Belt, known for hosting several significant porphyry copper deposits [10].