Mayo Lake Minerals Inc. has extended the concurrent closing date for its one-for-three share consolidation and $1.89 million listed issuer financing exemption offering from August 14, 2026, to on or about August 28, 2026. The two-week deferral is required due to the complex nature of certain logistical issues surrounding the concurrent transactions.

The financing structure itself remains unchanged. The offering comprises common share units priced at $0.08 per unit and flow-through units priced at $0.105 per flow-through unit, targeting aggregate gross proceeds of up to $1,890,000 on a post-consolidation basis. The share consolidation will reduce the total number of issued and outstanding common shares and requires the company to obtain a new CUSIP and ISIN. Both the consolidation and the financing remain subject to the final approval of the Canadian Securities Exchange.

Mayo Lake Minerals intends to use the net proceeds from the offering to advance exploration on its gold and silver properties, alongside general corporate purposes and working capital requirements. The company’s flagship 86 square kilometre Anderson-Davidson Project sits within the Tombstone Gold Belt in the Mayo Mining District of Yukon, Canada.

To deploy the incoming capital on the ground, the company has planned a 2,000-metre drill program across three distinct prospects within the Anderson Gold Trend during its 2026 field exploration campaign.

Mayo Lake Minerals shares are currently trading at $0.03, up 20.00%.

Read the full announcement: Mayo Lake Share Consolidation and Life Offering Closing Dates Extended