Lahontan Gold to Acquire Emergent Metals in All-Shares Transaction

11:15 AM EDT, 09/16/2026 (MT Newswires) -- Lahontan Gold (LG.V) is acquiring Emergent Metals (EMR.V) in an all-shares transaction, in order to acquire the West Santa Fe property in Nevada outright, the company said on Wednesday. Emergent Metals shareholders will receive one Lahontan share per 3.21 Emergent shares held for an implied consideration of $0.115 per Emergent share. This is a 47.8% premium based on a 30-day volume-weighted average share price, a statement said. Lahontan and Emergent Metals shareholders are expected to own 95.3% and 4.7% of the combined company, respectively. The transaction will see Lahontan own the West Santa Fe property and eliminate $1.73 million in future payments that would have been required. The underlying 1% NSR royalty on Santa Fe, along with the 1% NSR royalty applicable to the 27 York claims at the Santa Fe Mine project, also in Nevada, and that were acquired from Emergent will also cease to be applied. Lahontan will also acquire the New York Canyon project, which directly adjoins the southern boundary of the Santa Fe Mine. "The acquisition of Emergent Metals represents another important step in Lahontan's disciplined growth strategy. This Transaction consolidates our ownership of West Santa Fe, eliminates royalties at both West Santa Fe and the York claims at Santa Fe, adds the strategically important New York Canyon project to our regional-scale Walker Lane land package, and provides Lahontan with additional royalties, claims and other assets," said Kimberley Ann, chief executive officer of Lahontan. Lahontan shares were unchanged at CA$0.37 on the TSX Venture Exchange. Emergent shares last traded on Sept. 15, closing at CA$0.085.