Emergent Metals Corp. (TSXV: EMR, OTC: EGMCF, FRA: EML, MUN: ELM) has provided an update on the sale of its Golden Arrow Property to Fairchild Gold Corp. Fairchild has initiated the process to seek shareholder approval for the acquisition, which is required under TSX Venture Exchange policies. The company is preparing a management information circular and proxy materials for a special meeting of Fairchild shareholders scheduled for June 9, 2026. At this meeting, shareholders will vote on the transaction under the terms of the asset purchase agreement dated March 23, 2026.
Subject to shareholder approval, regulatory approvals, and other customary closing conditions, the transaction is expected to close in June 2026. The transaction includes several key components: a cash payment of US$350,000 upon TSX Venture Exchange approval, issuance of 12.5 million common shares of Fairchild to Emergent, and a senior secured promissory note of US$3.5 million. The note carries an 8.5% annual interest rate, payable semi-annually, and is secured by a first-ranking security interest on the property and related assets. The note includes provisions for early repayment bonuses and principal step-ups if not repaid within specific timeframes.
Emergent will retain a 0.5% net smelter return royalty on the property, with Fairchild having options to buy back the royalty at predetermined prices within specified periods. Additionally, Fairchild must fund an approximately US$40,000 reclamation bond upon closing. This transaction aligns with Emergent's Project Accelerator strategy, which focuses on acquiring quality assets, adding value through exploration, and monetizing them through sales, joint ventures, options, and royalties.
Emergent Metals Corp. is a gold and base metal exploration company with properties in Nevada and Quebec. In Nevada, the Golden Arrow Property is an advanced-stage gold and silver asset with a well-defined measured and indicated resource and a Plan of Operations for drilling. Other Nevada properties include New York Canyon, West Santa Fe (leased to Lahontan Gold Corporation), and Buckskin Rawhide East (leased to Rawhide Mining LLC). In Quebec, the Casa South Property is adjacent to Orezone Gold Corporation's Casa Berardi Mine, and the Trecesson Property is near the Val d'Or mining camp. Emergent also holds NSR royalties on properties being advanced by Troilus Mining Corporation, Agnico Eagle Mines Limited, and Lahontan Gold.
For more information, visit www.emergentmetals.com or view filings at www.sedarplus.ca.
