- Global Tactical Metals (CSE:MONI) has signed an agreement to acquire 100 per cent of the issued and outstanding shares of Critical Defense Metals Inc., a privately-held Ontario-based company.
- This acquisition is expected to bolster Global Tactical’s portfolio with two key properties: the Firstbrook Property near New Liskeard, Ontario, and the Fox River Area Property
- Global Tactical will make an initial non-refundable cash payment of C$30,000, issue an aggregate of 3.5 million common shares of Global Tactical
- Global Tactical Metals stock (CSE:MONI) last traded at $0.035
Global Tactical Metals (CSE:MONI) has signed an agreement to acquire 100 per cent of the issued and outstanding shares of Critical Defense Metals Inc., a privately-held Ontario-based company.
This acquisition is expected to bolster Global Tactical’s portfolio with two key properties: the Firstbrook Property near New Liskeard, Ontario, comprising 50 claims totaling approximately 11 square km., and the Fox River Area Property northwest of Hearst, Ontario, consisting of 13 claims.
Under the terms of the agreement outlined in a media statement, Global Tactical will make an initial non-refundable cash payment of C$30,000, issue an aggregate of 3.5 million common shares of Global Tactical, and grant the vendors a 2.5 per cent royalty on gross revenues derived from the sale of hydrogen, helium, or any other mineral products from the acquired properties. The Company retains the option to buy back 100 per cent of this royalty for C$5 million at any time.
The closing of the acquisition is expected to take place no later than April 30th, 2025. This move follows the company’s recent name change from “Global Defence Metals Corp.” to “Global Tactical Metals Corp.” in February, with the trading symbol remaining “MONI”.
This acquisition marks a significant step for Global Tactical Metals Corp. as it continues to expand its footprint in the strategic metals sector. The addition of Critical Defense Metals Inc.’s properties is expected to enhance the company’s resource base and provide new opportunities for growth and development in the industry.
Global Tactical Metals Corp. is an exploration and development company engaged in acquisition, exploration and development of properties which are prospective for nickel and other metals.
Global Tactical Metals stock (CSE:MONI) last traded at $0.035.
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