Lightning Resource Corp. has scheduled pre-market on September 2, 2026, as the closing date for its acquisition of non-Yukon mineral exploration projects from Prospector Metals Corp.

Under the transaction terms, Lightning will acquire the mineral titles and permits for the Savant, TooGood, Whitton, and Devon Projects, alongside 5,367,000 common shares of TooGood Gold Corp., a proprietary geological database, and $150,000 in cash. In exchange, Lightning will issue 29,400,000 common shares to Prospector Metals.

The agreement follows an initial option secured by Lightning in August 2025 to acquire up to a 100 percent interest in the Savant Gold Project. Lightning maintains backing from strategic shareholder B2Gold Corp., which holds an approximate 37 percent ownership interest in the company.

Upon closing, Prospector Metals will distribute the consideration shares to its common shareholders as a one-time special distribution acting as a return of capital. The distribution is calculated on the basis of 0.174977 of a consideration share for each Prospector common share held, with any fractional shares rounded down. The record date for the capital return is set for market close on September 4, 2026, with the distribution scheduled for completion on September 10, 2026. To preserve the payment ratio, any exercises of outstanding stock options or warrants will remain unprocessed prior to the record date.

Concurrent with the transaction closing, 8,000,000 subscription receipts previously issued through a private placement by Lightning Subreceipt Financing Corp. will automatically convert into 8,000,000 common shares and 4,000,000 share purchase warrants of Lightning. These warrants carry an exercise price of $0.62 until September 2, 2027, subject to acceleration. The associated escrow deadline for the financing proceeds has been extended to September 5, 2026. The transaction remains subject to final approval from the TSX Venture Exchange and the completion of standard closing conditions.

Read the full announcement: Prospector Metals and Lightning Resource Announce Timeline for Closing Transaction