SKRR Exploration Inc. Announces Update of Proposed Reverse Takeover Transaction with Kenz Global Resources Ltd.
SKRR Exploration Inc. Announces Update of
Proposed Reverse Takeover Transaction with
Kenz Global Resources Ltd.
VANCOUVER, BC
,
March 19, 2026
/CNW/ - SKRR Exploration Inc. (TSXV: SKRR) (FSE:
B04Q) ("
SKRR
" or the "
Company
") is pleased to announce that the Company and Kenz Global
Resources Ltd. ("
KENZ
") are proceeding with a definitive agreement (the "
Definitive Agreement
")
incorporating the principal terms of the proposed transaction as described in the letter of intent (see
the Company's news release dated August 1, 2025) (the "
Proposed Transaction
"). The Company
and Kenz entered into amending agreements extending the outside date for the exclusivity period
and completion of the Proposed Transaction to June 30, 2026, and continue to work together
towards executing the Definitive Agreement and making all necessary submissions and filings in
connection with the Proposed Transaction. It is anticipated that the Proposed Transaction will
constitute a "Reverse Takeover" of the Company in accordance with Policy 5.2 –
Changes of
Business and Reverse Takeovers
of the TSX Venture Exchange (the "
Exchange
") where the
existing shareholders of KENZ will own a majority of the outstanding common shares of the
Company and the Company is expected be renamed to such name as the Company and KENZ may
determine (the "
Resulting Issuer
"). Upon completion of the Proposed Transaction, it is anticipated
that the Resulting Issuer will be listed as a Tier 2 - Mining Issuer on the Exchange.
If, and when, a Definitive Agreement is executed in connection with the Proposed Transaction,
SKRR will issue a more comprehensive news release in accordance with Policy 5.2 of the Exchange
disclosing further details of the Proposed Transaction, including, among other things, financial
information respecting KENZ, capitalization, shareholder approval (if required), and details of
insiders and proposed directors and officers of the Resulting Issuer.
Trading Halt
Trading will remain halted pending receipt and review of acceptable documentation pursuant to
Section 2.2 of TSXV Policy 5.2 regarding a reverse takeover transaction.
Additional Information
Additional information concerning the Proposed Transaction, SKRR, KENZ and the Resulting Issuer
will be provided once determined in a subsequent news release and in the Filing Statement to be
filed by SKRR in connection with the Proposed Transaction and which will be available under SKRR's
SEDAR+ profile at
www.sedarplus.ca
.
About SKRR Exploration Inc:
SKRR is a Canadian-based precious and base metal explorer with properties in Saskatchewan –
some of the world's highest ranked mining jurisdictions. The primary exploration focus is on the
Trans-Hudson Corridor in Saskatchewan in search of world class precious and base metal deposits.
The Trans-Hudson Orogen – although extremely well known in geological terms has been
significantly under-explored in Saskatchewan. SKRR is committed to all stakeholders including
shareholders, all its partners and the environment in which it operates.
ON BEHALF OF THE BOARD
Sherman Dahl
President & CEO
Tel: 250-558-8340
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities described herein in the United States. The securities described herein have not been
registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"),
or any state securities law and may not be offered or sold in the "United States", as such term is
defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from such registration
requirements is available.
Cautionary Note
Completion of the Proposed Transaction is subject to a number of conditions, including but not
limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, disinterested
approval. Where applicable, the Proposed Transaction cannot close until the required shareholder
approval is obtained. 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 or filing
statement 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 SKRR should be considered highly speculative.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the Proposed Transaction
and has neither approved nor disapproved the contents of this news release.
All information contained in this news release with respect to SKRR and KENZ was supplied by the
parties, respectively, for inclusion herein, and SKRR and its respective directors and officers have
relied on KENZ for any information concerning such party.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in policies
of the Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities
laws relating to the proposal to complete the Proposed Transaction and associated transactions,
including statements regarding the terms and conditions of the Proposed Transaction, the execution
of the Definitive Agreement, the proposed business of the Resulting Issuer, shareholder and
regulatory approvals and the proposed directors and officers of the Resulting Issuer. The information
about KENZ contained in the news release has not been independently verified by SKRR. Although
SKRR believes in light of the experience of its officers and directors, current conditions and expected
future developments and other factors that have been considered appropriate that the expectations
reflected in this forward-looking information are reasonable, undue reliance should not be placed on
them because SKRR can give no assurance that they will prove to be correct. Readers are
cautioned to not place undue reliance on forward-looking information. Actual results and
developments may differ materially from those contemplated by these statements depending on,
among other things, the risks that the parties will not proceed with the Proposed Transaction, the
name change of the Company, the appointment of the proposed directors and officers of the
Resulting Issuer and associated transactions, that the ultimate terms of the Proposed Transaction,
the appointment of the proposed directors and officers of the Resulting Issuer and associated
transactions will differ from those that currently are contemplated, and that the Proposed
Transaction and associated transactions will not be successfully completed for any reason (including
the failure to obtain the required approvals or clearances from regulatory authorities). The terms and
conditions of the Proposed Transaction may change based on SKRR's due diligence and the receipt
of tax, corporate and securities law advice for both SKRR and KENZ. The statements in this news
release are made as of the date of this news release. SKRR undertakes no obligation to comment
on analyses, expectations or statements made by third-parties in respect of SKRR, KENZ, their
securities, or their respective financial or operating results (as applicable). There can be no
assurance that the Proposed Transaction will be completed or, if completed, will be successful.
These statements are based upon assumptions that are subject to significant risks and uncertainties,
including risks regarding the mining industry, commodity prices, currency/exchange rates, market
conditions, geopolitical events and uncertainties, changes in governmental regulations, foreign laws
and regulations, general economic factors, management's ability to manage and to operate the
business, and explore and develop the projects, of the Resulting Issuer, and the equity markets
generally. Because of these risks and uncertainties and as a result of a variety of factors, the actual
results, expectations, achievements or performance of each of SKRR and KENZ may differ
materially from those anticipated and indicated by these forward-looking statements. Any number of
factors could cause actual results to differ materially from these forward-looking statements as well
as future results. Although each of SKRR and KENZ believes that the expectations reflected in
forward looking statements are reasonable, they can give no assurances that the expectations of
any forward-looking statements will prove to be correct. Except as required by law, each of SKRR
and KENZ disclaims any intention and assume no obligation to update or revise any forward-looking
statements to reflect actual results, whether as a result of new information, future events, changes in
assumptions, changes in factors affecting such forward-looking statements or otherwise.
SOURCE SKRR Exploration Inc.
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%SEDAR: 00027214E
CO: SKRR Exploration Inc.
CNW 17:40e 19-MAR-26