Lahontan Gold Corp. has entered into a definitive agreement to acquire Emergent Metals Corp. in an all-share transaction valuing Emergent at approximately C$0.1153 per share, delivering a 47.8 percent premium to its 30-day volume-weighted average price.

Under the arrangement agreement, Emergent shareholders will receive 0.3115 of a Lahontan common share for each Emergent share held. Upon completion, existing Lahontan shareholders and former Emergent shareholders will own approximately 95.3 percent and 4.7 percent of the combined company, respectively, on a non-diluted basis.

The transaction consolidates ownership of the Santa Fe Mine, West Santa Fe, and New York Canyon properties under one roof within Nevada’s Walker Lane mineral belt. Lahontan previously held an option to acquire the West Santa Fe project under a seven-year, US$3.2 million earn-in structure. The acquisition replaces that option with direct corporate ownership, while Emergent's New York Canyon copper property was previously optioned to Ivanhoe Electric in March 2024.

The combined company will also hold Emergent’s remaining mineral property and royalty interests in Nevada and Quebec, alongside assets secured from the recent sale of the Golden Arrow property to Fairchild Gold Corp., including a US$3.5 million promissory note, 12.5 million common shares of Fairchild, and a 0.5 percent net smelter return royalty.

“The Transaction brings together the Santa Fe Mine, West Santa Fe and New York Canyon properties under common ownership and creates the opportunity to explore and develop these neighbouring assets on a coordinated basis. Emergent shareholders will also participate in a broader portfolio that includes Emergent’s other mineral and royalty interests and the assets received from the recent sale of Golden Arrow.” — David Watkinson, President and CEO

The transaction requires approval by at least 66⅔ percent of the votes cast by Emergent shareholders at a special meeting, alongside minority approval under Multilateral Instrument 61-101, court orders from the Supreme Court of British Columbia, and acceptance from the TSX Venture Exchange. Emergent expects to hold the meeting in November 2026, with closing anticipated shortly thereafter.

Read the full announcement: Emergent Metals Announces Definitive Agreement to be Acquired by Lahontan Gold