Cygnus Metals and Dore Copper Successfully Completed Merger

SEATTLE (Scrap Monster): Dore Copper Mining Corp. and Cygnus Metals Limited announced that their merger was completed successfully. A key minerals exploration and development company has been created as a result of the deal, and it will be dual listed on the TSXV and ASX.

For every Dore share held just before the deal closes, each former Dore shareholder will be eligible to receive 1.8297 fully paid ordinary Cygnus shares. Around January 2, 2025, at market close, the Dore shares will be delisted from the TSXV. Additionally, it will soon stop being quoted on the FRA and OTCQB.

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With a strategic focus on high-grade copper and lithium assets in Quebec, Canada, the merger deal is anticipated to position Cygnus as a significant participant in the critical minerals industry.

The two companies have merged, combining Cygnus's James Bay Lithium Projects with Dore's superior Chibougamau Copper-Gold Project in Quebec. The global supply chain for critical minerals will benefit greatly from the merged assets. The combined company will concentrate on developing the lithium exploration program in James Bay and increasing resources at Chibougamau.

Results from the two firms' recent targeted copper exploration effort are expected early this year.