Helius Minerals Limited has secured a stay from the Court of Appeals of the State of Pernambuco, Brazil, which suspends a preliminary injunction that previously blocked the company’s acquisition of Colossus Brazil. The Appellate Court’s ruling, issued on August 5, 2026, renders the previous preliminary injunction issued by the 18th Civil Court of Recife entirely ineffective.

The court has ordered the Civil Court to stop issuing notices of litigation to the National Mining Agency (ANM) and the Commercial Registry of the State of Minas Gerais (JUCEMG). Furthermore, the ruling mandates the immediate issuance of notices to these bodies to cancel and suspend any existing blocks, registrations, or notations of litigation that were previously recorded against the project.

The initial injunction, granted on July 31, 2026, was issued in relation to a pre-existing legal action known as the Smith Case, which involves a dispute over the removal of a minority quotaholder from a separate entity. Helius and Colossus are not parties to that litigation, and the court has confirmed that the Serra Pelada project is not involved in those proceedings. The initial order was granted on an ex parte basis, meaning it was decided without notice to Helius or the other respondents named in the action.

With the legal restrictions now suspended, Helius is permitted to resume the process of acquiring Colossus Brazil in accordance with the terms of the Exclusivity, Share Option and Acquisition Agreement signed in March 2025. Helius maintains an objective to complete the transaction by October 1, 2026.

Moving forward, the company must also address operational requirements to solidify its position at the asset. To finalize the planned extension of mining activities at the Serra Pelada project, Helius is required to demonstrate full compliance with specific conditions stipulated by the ANM regarding the mining concession.

In response to the legal interference from the third party, the company emphasized its resolve to protect the integrity of the transaction.

"Helius will vigorously defend its rights and interests against any attempt by Mr. Smith to unlawfully and unreasonably interfere with the Company's business."

— Christian Grainger, President and CEO

Read the full announcement: Helius Obtains Suspension of Ex Parte Preliminary Injunction Issued Regarding the Serra Pelada Project