ExGen Resources and MTB Metals Merge for Future Growth

Exciting Merger: ExGen Resources and MTB Metals

In a significant development in the mining sector, two dynamic companies, ExGen Resources Inc. (TSX.V: EXG; OTC: BXXRF) and MTB Metals Corp. (TSXV: MTB, OTCQB: MBYMF, Frankfurt: M9U), have announced their merger. This union is expected to create a robust entity focusing on copper, gold, and lithium exploration and development.

Details of the Arrangement Agreement

The companies have entered into an Arrangement Agreement that outlines how they will combine their operations, business assets, and properties. Under this agreement, ExGen will acquire all issued and outstanding securities of MTB, providing MTB shareholders with a stake of about 35% in the newly formed company. This merger marks a transition from their earlier advertisement of a Letter of Intent.

Advancing Exploration Initiatives

The signing of this agreement propels both companies into a new phase, where they can collaborate more effectively on landmark exploration projects. Both ExGen and MTB have initiated preparations for National Instrument 43-101 (NI 43-101) reports, aiming to solidify their positions in resource exploration.

Possible Advantages of Merging

The merger holds promising advantages. By consolidating their strengths, they will create a well-funded exploration and development company with a strong balance sheet and a robust management team. Eventually, this will benefit both companies' shareholders and the long-term strategy of the merged entity.

A Promising Collaboration

According to Lawrence Roulston, CEO of MTB, this merger aligns both companies' interests in copper and gold projects, especially with ExGen’s carried interest in the developing Empire copper mine. Roulston believes that the merger will enhance their capabilities and ensure a solid business model that facilitates growth and exploration funding.

Moreover, Jason Riley, CEO of ExGen, emphasized the importance of strategic expansion in their project portfolio. He noted that the merger would allow their organization to capitalize on high potential projects in an upsurging market for metals.

Highlights of ExGen's Project Portfolio

ExGen currently has substantial projects, including:

• Empire Mine: The company holds a 20% carried interest in this copper-gold project poised for development in Idaho. The project's positive outlook stems from a 2020 NI 43-101 Report highlighting a promising open pit mine plan.
• Dok Project, BC: This project represents a significant portion of the area covered by MTB's Telegraph project in British Columbia.
• Spark North Lithium Project, Nevada: Encompassing 2300 acres of claims situated directly north of an established lithium project.
• Buena Vista Copper Project, Nevada: With successful identification of copper mineralization, this project continues to show promise.
• Gordon Lake Project, NWT: A high-grade gold exploration site that holds potential for future value.
• Boss Project, Nevada: A previously producing site with demonstrated copper-gold mineralization.
• Macrex Project, BC: A diverse project in the Alberni Mining District known for its copper, gold, and silver.

Exploring MTB's Attributes

MTB’s assets also hold significant promise, notably:

• Telegraph: A strategically located project where early drilling successes indicate the existence of a copper-gold bearing porphyry system.
• Southmore: 100% owned and rich in precious and base metals, including high copper and gold grades.
• Royalties: MTB has established royalties across multiple mineral projects, showcasing their diversity in the market.

Next Steps Towards Finalization

MTB is poised to seek court approval for this arrangement, which will involve convening a special meeting of shareholders in the near future. These crucial steps will position both companies favorably as they prepare for the next chapter of growth together.

For inquiries regarding ExGen, interested parties can reach out through Jason Tong, the company's Chief Financial Officer.

Frequently Asked Questions

What is the purpose of the merger between ExGen and MTB?

The merger aims to create a well-funded entity focused on copper, gold, and lithium exploration and development, enhancing their market presence and growth potential.

What are the key projects of ExGen Resources?

ExGen's notable projects include the Empire Mine, Dok Project, and multiple lithium and copper ventures spread across Canada and the United States.

How will shareholders benefit from the merger?

MTB shareholders will receive approximately 35% of the merged company, thereby gaining exposure to a larger and resource-rich entity.

What are the next steps in the merger process?

MTB will pursue court approval and organize a special meeting of shareholders, anticipated to take place shortly.

How can I find more information about these companies?

For further details about ExGen, please contact Jason Tong, Chief Financial Officer, or explore their official website for updates.

About The Author

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