Lightning Resource Corp. has completed its acquisition of non-Yukon mineral exploration assets from Prospector Metals Corp., releasing $4,000,000 in gross financing proceeds to fund ongoing exploration across its expanded Canadian portfolio.

The non-arm's length transaction, effective September 2, 2026, was executed by purchasing Prospector’s wholly-owned subsidiary, Lightning Exploration Corp. Consideration for the deal consisted of issuing 29,400,000 common shares of Lightning.

The assets acquired include the Savant, Devon, Whitton, and TooGood projects, alongside marketable securities, cash holdings, and a proprietary geological database. Lightning initially secured an option to acquire up to a 100 percent interest in the Savant Gold Project in August 2025 before entering into the definitive share purchase agreement with Prospector in April 2026. Reconnaissance fieldwork at Savant previously yielded high-grade surface sampling results, including a grab sample of 34.7 g/t gold from metasedimentary rock.

Concurrently, the company released the gross proceeds from its previously closed subscription receipt financing. Under an amalgamation agreement, 8,000,000 subscription receipts automatically converted into units comprising 8,000,000 common shares and 4,000,000 warrants. Each warrant allows the holder to purchase an additional common share at $0.62 until September 2, 2027, subject to accelerated expiry terms if the trading price meets specified thresholds. Securities issued to participating insiders under the financing are subject to a statutory hold period expiring on January 3, 2027.

“The Acquisition marks a significant milestone for Lightning, positioning the Company as a rising force in Canada's gold exploration. Lightning will actively explore the current project portfolio and continue to pursue additional acquisition opportunities to provide further value and growth potential to shareholders.”

— Rob Carpenter, Interim CEO

Strategic shareholder B2Gold Corp. maintains an approximate 37 percent ownership interest in Lightning following prior debt settlement and financing transactions. Alongside the closing, Lightning reconstituted its board of directors and confirmed Dr. Carpenter to lead the company as Interim CEO.

Read the full announcement: Lightning Resource Corp. Completes Acquisition of Prospective Projects and Receives Financing Proceeds of $4,000,000