TORONTO, Jan. 07, 2026 (GLOBE NEWSWIRE) -- Matachewan Consolidated Mines, Limited (“Matachewan” or the “Company”) (TSX-V:MCM.A-X) today announced that the Board of Directors of the Company (the “Board”) has declared a special one-time distribution of cash (the “Cash Distribution”) and a special one-time distribution of common shares of Taranis Resources Inc. (“Taranis Shares”) that are held by the Company (the “Share Distribution”, and, collectively with the Cash Distribution, the “Distributions”) to its sh ...

Core Points - Matachewan Consolidated Mines, Limited sold a total of 91,530 common shares of Kinross Gold Corporation for a total consideration of $2,049,194 between March 17, 2025, and August 7, 2025 [1] - The company obtained written consent from a majority of its shareholders for this disposition, in compliance with TSXV Policy 5.3 [1] Company Summary - The transaction involved the sale of shares in Kinross Gold Corporation, indicating a strategic move by Matachewan Consolidated Mines [1] - The aggregate consideration from the sale reflects a significant financial transaction for the company, amounting to over $2 million [1]

Core Viewpoint - Matachewan Consolidated Mines, Limited has decided to distribute cash and assets to shareholders and seek strategic alternatives to maximize shareholder value [1] Group 1: Financial Position - The company has liquidated most of its assets, holding approximately $12,300,000 in cash and certain shares in other public companies [2] - Estimated outstanding liabilities and expenses related to the distributions are approximately $700,000 [2] Group 2: Distribution Plan - The company plans to distribute up to $2,800,000 through a reduction in stated capital, with an expected return of C$0.22498 per Common Share for shareholders [4] - A special meeting of shareholders is scheduled for October 1, 2025, to vote on the distribution resolution [4][5] Group 3: Approval and Conditions - The distribution is subject to approval by the TSX Venture Exchange and requires at least two-thirds of votes cast at the special meeting [5] - The Board retains discretion not to proceed with the distribution if it is deemed not in the best interests of the company and its shareholders [6]