The transaction is expected to close by 30 April 2025, pending customary closing conditions and regulatory approvals.

Global Tactical Metals has signed a definitive share purchase agreement with Critical Defense Metals, a privately held Canadian company, to acquire 100% of its issued and outstanding shares.

The acquisition includes two key properties in Ontario. The Firstbrook Property, near New Liskeard, encompasses 50 claims over approximately 1,091ha. The Fox River Area Property, located north-west of Hearst, features 13 claims.

Under the acquisition terms, Global Tactical will make an initial non-refundable cash payment of C$30,000 ($21,219), issue 3.5 million common shares and grant a 2.5% gross revenue royalty on the sale of hydrogen, helium or any other minerals from these properties.

It also retains the right to repurchase this royalty for C$5m at any time.

The transaction is expected to close by 30 April 2025, pending customary closing conditions and regulatory approvals, including from the Canadian Securities Exchange.

This acquisition follows the rebranding from Global Defence Metals Corp to Global Tactical Metals Corp in February 2025, with its trading symbol remaining ‘MONI’.

In January, Cumberland Resources Nickel Corp had changed its name to Global Defence Metals Corp, with the trading symbol changing from ‘LAND’ to ‘MONI’.

Last year, in December, Cumberland Resources Nickel announced the staking of 30 contiguous, unpatented mining claims in Darling Township, Ontario.

Together, these claims cover an area of approximately 600ha and run parallel to the 44 claims secured in November 2024, thus amassing over 1,400ha in Darling Township.

Situated 300km east of Toronto, Darling Township benefits from hydroelectric power, accessible road networks and proximity to skilled workforce.

As the company bolsters its portfolio in Darling Township, it is focused on identifying and tapping the value of critical minerals, with a particular emphasis on antimony, which has significant strategic importance in sectors such as renewable energy, defence and electronics.

Source: Mining Technology