Enduro Metals and Commander Resources Provide Update on Business Combination
Enduro Metals and Commander Resources
Provide Update on Business Combination
Kelowna, British Columbia--(Newsfile Corp. - February 25, 2025) -
Enduro Metals Corporation
(TSXV: ENDR) (OTCQB: ENDMF) (FSE: SOG0)
("
Enduro
") and
Commander Resources Ltd.
(TSXV: CMD)
("
Commander
" and together with Enduro, the "
Parties
") are pleased to announce that
they continue to work diligently on the completion of their previously announced business combination
(the "
Proposed Transaction
"). In furtherance of that, the Parties determined to structure the Proposed
Transaction as a court-approved plan of arrangement, to be completed in accordance with the terms and
conditions of an arrangement agreement between the Parties dated February 25, 2025 (the
"
Arrangement
Agreement
").
The Arrangement Agreement has substantially the same terms as the
amalgamation agreement that the parties initially entered into and which is now superseded by the
Arrangement Agreement (see joint news release dated December 9, 2024, filed on SEDAR+).
The business combination is progressing as planned; both companies are coordinating on the
information circular.
Completion of the Proposed Transaction remains subject to several conditions, including the approval of
Commander's shareholders, approval of The Supreme Court of British Columbia and acceptance of the
TSXV.
There can be no assurance that the Proposed Transaction will be completed as proposed or at
all.
Investors are cautioned that, except as disclosed in the management information circular to be prepared
in connection with the Proposed Transaction, any information released or received with respect to the
Proposed Transaction may not be accurate or complete and should not be relied upon. Trading in the
securities of Commander and Enduro should be considered highly speculative.
Qualified Persons
Robert Cameron, P. Geo. is a qualified person within the context of National Instrument 43-101, and has
read and takes responsibility for the technical aspects of this release in so far as they relate to
Commander.
Mr. Maurizio Napoli, P. Geo. is a qualified person within the context of National Instrument
43-101, and has read and takes responsibility for the technical aspects of this release in so far as they
relate to Enduro.
About Enduro Metals
Enduro Metals is an exploration company focused on its Newmont Lake Project; a total 688km
2
property
located between Eskay Creek, Snip, and Galore Creek within the heart of British Columbia's Golden
Triangle. Building on prior results, Enduro's geological team has outlined multiple deposit environments
of interest across the Newmont Lake Project including high-grade epithermal/skarn gold along the
McLymont Fault, copper-gold alkalic porphyry mineralization at Burgundy, newly discovered copper-gold
porphyry mineralization at North Toe, and a large 10km x 4km geochemical anomaly hosting various
gold, silver, copper, zinc, nickel, cobalt, and lead mineralization along the newly discovered Chachi
Corridor.
About Commander Resources
Commander is a Canadian focused exploration company that has leveraged its success in exploration
through a combination of partnerships and sole funded exploration. Commander has a portfolio of base
and precious metal projects across Canada including its flagship Burn Project, a newly discovered
porphyry copper-gold project in the Babine copper belt of central British Columbia and its October
Dome copper and gold porphyry target in central British Columbia and our Sabin VMS project in
Ontario.
On Behalf of the Board of Directors of Commander Resources Ltd.
"
Robert Cameron
"
President and Chief Executive Officer
On Behalf of the Board of Directors of Enduro Metals Corporation
"
Cole Evans
"
Chief Executive Officer
For further information please contact:
Corporate Communications
Ali Wasiliew - Manager of Communications
Tel: +1 (236) 420-4050
Email:
www.endurometals.com
Forward-Looking Statements
This news release contains statements that constitute "forward-looking statements".
Such forward
looking statements involve known and unknown risks, uncertainties and other factors that may cause
Enduro's and Commander's actual results, performance or achievements, or developments in the
industry to differ materially from the anticipated results, performance or achievements expressed or
implied by such forward-looking statements. Forward looking statements are statements that are not
historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates,"
"believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or
conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this news
release include statements concerning the parties' expectation that they will complete the Proposed
Transaction and the Loan, and all other statements that are not historical in nature.
Although Enduro and Commander believe the forward-looking information contained in this news
release is reasonable based on information available on the date hereof, forward-looking statements by
their nature involve assumptions, known and unknown risks, uncertainties and other factors which may
cause our actual results, performance or achievements, or other future events, to be materially different
from any future results, performance or achievements expressed or implied by such forward-looking
statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE
REPRESENTS THE EXPECTATIONS OF ENDURO AND COMMANDER AS OF THE DATE OF
THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE.
READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING
INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER
DATE.
WHILE ENDURO AND COMMANDER MAY ELECT TO, NEITHER OF THEM
UNDERTAKES TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS
REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS
.
Neither the TSX Venture Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this release.
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/242209