CANADIAN GOLD CORP ACQUISITION |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| CANADIAN GOLD CORP ACQUISITION | NOTE 18 CANADIAN GOLD CORP ACQUISITION On January 5, 2026, the Company completed the acquisition of Canadian Gold, an exploration and production mine which has 100% interest in the Tartan Lake Gold Mine Project located in the province of Manitoba, Canada. The Company acquired 100% of Canadian Gold’s outstanding equity interests. The Company accounted for the acquisition of Canadian Gold as an asset acquisition, according to ASC 805 – Business Combinations. Consideration transferred to acquire Canadian Gold was measured at fair value. Pursuant to the Arrangement Agreement, the Company issued 2,943,766 common shares and 1,529,508 subscription receipts with a fair value of $87.7 million as part of the consideration. The Company’s previously held equity interest was measured at a fair value of $5.1 million and included in consideration. The following tables summarize the purchase price and the estimated fair value of assets acquired and liabilities assumed on January 5, 2026:
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