Selkirk First Nation exercises participation right in Selkirk Copper

Selkirk Copper Mines Inc. (TSXV: SCMI) announced that Selkirk First Nation will exercise its anti-dilution provision to purchase 435,000 common shares for C$500,250, or C$1.15 per share.

The purchase is separate from and in addition to a previously announced C$30 million private placement led by Canaccord Genuity Corp. The shares will be priced at the same rate as those in the private placement.

The investment stems from Selkirk First Nation's pro-rata equity participation rights under an agreement with the company from August 2025. Selkirk First Nation indirectly holds a controlling equity stake in Selkirk Copper.

"This further investment in Selkirk Copper is another step in progressing towards a potential restart of the Minto copper-gold-Silver project," said Chief Jeremy Harper of Selkirk First Nation.

Selkirk Copper plans to use proceeds for continued development of the Minto copper-gold-silver project, working capital and general corporate purposes. The transaction requires TSX Venture Exchange approval and is expected to close around May 1, 2026.

The shares will be subject to a four-month and one-day statutory hold period from closing.

Selkirk Copper controls 26,850 hectares of mineral claims in the Minto-Carmacks copper belt and infrastructure from the former Minto mine, including a 4,100 tonne per day processing plant and 400-person camp. The company also trades on the Frankfurt Exchange (FSE: IO20) and OTCQB (OTCQB: SKRKF).

You May Also Be Interested In

• Correction: Kepler Cheuvreux Upgrades Siemens AG (SIE:GR) (SIEGY) to Hold
• JPMorgan Starts Kanzhun Ltd (2076:HK) at Overweight
• Crusoe in talks to raise $3B in funding - Bloomberg