Highlander Silver (TSX:HSLV) completed its acquisition of Bear Creek Mining (TSXV:BCM), exchanging 0.1175 Highlander shares for each Bear Creek share and settling key debts with Royal Gold and Equinox Gold
Bear Creek Mining will be delisted from the TSX Venture Exchange around March 2, 2026, and is withdrawing from OTCQX and the Lima Stock Exchange
The merger strengthens Highlander Silver’s portfolio, granting it control of major assets like the fully permitted Corani silver project and positioning the company for accelerated growth
Highlander Silver stock (TSX:HSLV) last traded at C$9.74
New silver-sector contender emerges
Highlander Silver (TSX:HSLV) has officially completed its long‑anticipated business combination with Bear Creek Mining Corp. (TSXV:BCM), marking one of the most significant consolidations in the silver mining sector this year. The transaction, finalized under a court‑approved plan of arrangement, positions Highlander as a rapidly emerging force with control of one of the world’s largest fully permitted silver deposits.
A merger years in the making
Under the terms of the arrangement outlined in a media release, Bear Creek shareholders received 0.1175 Highlander Silver shares for each Bear Creek share held. The transaction also included critical debt settlement agreements with Royal Gold and Equinox Gold, with Highlander paying US$6.2 million and US$1.6 million respectively to retire legacy obligations. The company simultaneously repaid outstanding advances owed to Wheaton Precious Metals.
This move allows the combined company to enter its next phase in a significantly stronger financial position—cleaner balance sheets, unified management direction, and a portfolio rich with near‑development and high‑grade exploration assets.
End of an era for Bear Creek stockholders
With the transaction closed, Bear Creek Mining’s shares are expected to be delisted from the TSX Venture Exchange by March 2, 2026, and the company has initiated the process to withdraw from OTCQX and the Lima Stock Exchange. It will also apply to cease being a reporting issuer in Canada.
This caps off a transformative month for Bear Creek investors, who overwhelmingly approved both the acquisition and related interest‑deferral agreements during February’s special shareholder meeting.
A new silver powerhouse: What the deal unlocks
At the heart of the merger is the Corani Project in Peru, widely regarded as one of the largest fully permitted, undeveloped silver deposits globally. Bear Creek previously struggled to advance the project due to funding and debt constraints—an obstacle Highlander’s capital strength now removes.
Independent mining analysts have described the merger as a “rescue and growth” strategy that gives Highlander immediate control of a world‑class asset while offering Bear Creek investors a lifeline through stronger leadership and long‑term development potential.
Momentum already building: Financing and growth plans
Just weeks before the acquisition’s close, Highlander Silver secured a US$40 million investment from renowned mining financier Eric Sprott. The funds, raised through a non‑brokered private placement of over 8 million shares at C$6.80 each, will accelerate development across the company’s expanding project pipeline, including the high‑grade San Luis gold‑silver project and integrated work at Corani.
CEO Daniel Earle has emphasized that Highlander aims to begin permitting for a starter operation at its Yalán project in early 2026, positioning the company for potential first production by 2028. A larger second‑phase buildout, including a dedicated onsite mill, is expected as exploration results continue to strengthen across its Peruvian portfolio.
A Combined Company Poised for the 2026–2030 Metals Cycle
The timing of the merger aligns with renewed global momentum in silver demand, driven by solar power, EV infrastructure, and industrial electronics. Analysts believe Highlander Silver’s enlarged asset base could make it a prime candidate for index inclusion—beginning with SILJ—within the next year.
With more than US$100 million in expected cash at closing, a robust drilling schedule, and strengthened leadership under the Augusta Group and Eric Sprott’s backing, the newly expanded Highlander Silver appears positioned to become one of the sector’s strongest growth stories heading into the next commodity cycle.
About Highlander Silver
Highlander Silver is a junior silver and gold company active in Peru. Besides Eric Sprott, notable shareholders include Augusta Group and the Lundin family.
Highlander Silver stock (TSX:HSLV) closed trading up 0.31 per cent at C$9.74 and has risen more than 440 per cent since this time last year.
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