McFarlane Lake Mining Limited has agreed to acquire a 19.9% equity interest in iMetal Resources, Inc. through a $1,420,085 strategic investment. Under the terms of the subscription agreement, McFarlane will purchase 14,200,852 units at a price of $0.10 per unit. Each unit consists of one common share and one common share purchase warrant, which allows for the purchase of an additional share at $0.175 for a three-year period.

The transaction remains subject to customary closing conditions, including final approval from the TSX Venture Exchange and the Canadian Securities Exchange. Once the deal concludes, McFarlane will gain specific oversight and governance rights. These include the ability to nominate one director to the iMetal board and the right to participate in future equity issuances to maintain its pro-rata ownership. Furthermore, subject to the approval of the iMetal board, McFarlane will be able to provide technical oversight regarding exploration activities at the Gowganda property.

The strategic investment is being completed alongside iMetal’s broader non-brokered private placement, which aims to raise up to $3 million. If the trading price of iMetal shares exceeds $0.40 for 20 consecutive days, iMetal retains the right to accelerate the expiry date of the warrants issued to McFarlane.

“We are pleased to be participating in the iMetal financing. This creates an opportunity for both companies and allows interests to be more aligned in exploring geological trends in this area for the development and benefit of both companies. We look forward to working with the iMetal team.”

— Mark Trevisiol, Chief Executive Officer, President and Director

In a separate corporate development, McFarlane has extended its marketing services engagement with The Market Link. This second extension covers a four-month period that began on July 26, 2026, for a total cash cost of US$110,000. Under this arrangement, The Market Link will continue to provide advertising and media services, including email distribution and sponsored materials, to the company. The provider remains an arm’s-length party to McFarlane, and no securities will be issued as compensation for these services.

Read the full announcement: McFarlane Lake Announces Proposed Strategic Investment in iMetal Resources, Inc.