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VANCOUVER, BC / ACCESS Newswire / December 18, 2025 / Solar Peak Metals Corp. (TSXV:PEAK,OTC:SUNPF)(OTCQB:SUNPF) (“Solar Peak” or the “Firm“) is happy to announce the profitable completion of its beforehand introduced transaction pursuant to which Solar Peak acquired the entire issued and excellent shares (the “SDC Shares“) of Saudi Discovery Firm SPV Restricted (“SDC” or “Saudi Discovery“), by means of a share change (the “Transaction“).
Greg Davis, Chief Govt Officer of Solar Peak, commented: “We’re very excited to finish the transaction with SDC and associated $6.7 million financing, which is able to make Solar Peak the marquee exploration firm within the Arabian Nubian Protect. This transaction represents a transformative milestone for the Firm, and we sit up for offering additional particulars on our 2026 exploration plans early within the new yr. Solar Peak’s administration want to thank the brand new buyers and the shareholders of each Solar Peak and SDC for his or her sturdy help all through this endeavor.“
Pursuant to the Transaction, former SDC shareholders acquired an combination of 58,065,356 frequent shares of the Firm (the “Solar Peak Shares“) in change for all SDC Shares. The Solar Peak Shares issued underneath the Transaction are anticipated to be listed and posted for buying and selling on the TSX Enterprise Change (“TSXV“).
The Transaction required the approval of Solar Peak shareholders at a particular assembly (the “Assembly“) by a easy majority of the votes solid by the Solar Peak shareholders, excluding the votes solid by sure individuals, underneath the insurance policies of the TSXV. On the Assembly, held on December 1, 2025, a complete of 53,830,685 Solar Peak Shares, representing 61.8% of the issued and excellent Solar Peak Shares, have been voted, and 100% of the votes solid, excluding the votes solid by sure individuals, have been in favour of the Transaction.
Additional particulars concerning the Transaction are set out in Solar Peak’s administration data round dated November 3, 2025, in reference to the Assembly, which is accessible on the Firm’s SEDAR+ profile at www.sedarplus.ca.
Conversion of Subscription Receipts
In reference to the Transaction, Solar Peak accomplished a subscription receipt providing for gross proceeds of $6,668,622.10, comprised of 16,032,470 subscription receipts (the “FinCo Subscription Receipts“) of a completely owned subsidiary of the Firm (“FinCo“) and three,020,736 subscription receipts of Solar Peak (the “Solar Peak Subscription Receipts“, and along with the FinCo Subscription Receipts, the “Subscription Receipts“) at a worth of $0.35 per Subscription Receipt, as beforehand introduced on November 28, 2025.
On closing of the Transaction, with out cost of extra consideration or additional motion on the a part of the Subscription Receipt holders, (i) every FinCo Subscription Receipt robotically transformed to 1 unit of FinCo, consisting of 1 frequent share of FinCo (“FinCo Share“) and one-half (1/2) of 1 warrant of FinCo (every entire warrant, a “FinCo Warrant“), and (ii) every Solar Peak Subscription Receipt robotically transformed to 1 unit of Solar Peak, consisting of 1 Solar Peak Share and one-half (1/2) of 1 warrant of Solar Peak (every entire warrant, a “Solar Peak Warrant“), exercisable to amass one Solar Peak Share at an train worth of $0.50 per Solar Peak Share for a interval of thirty-six (36) months from the date of issuance, topic to acceleration in sure conditions. Subsequently, FinCo amalgamated with one other wholly-owned subsidiary of the Firm (the “Amalgamation“), and every FinCo Share was exchanged for one Solar Peak Share, and every FinCo Warrant was exchanged for one Solar Peak Warrant.
The securities issued upon conversion of the Solar Peak Subscription Receipts are topic to a statutory maintain interval of 4 months and someday from the date the Solar Peak Subscription Receipts have been issued. The securities issued upon the Amalgamation will not be topic to Canadian statutory maintain durations.
ABOUT SAUDI DISCOVERY COMPANY
Saudi Discovery Firm is a pioneering exploration firm advancing high-potential mineral tasks in Saudi Arabia, aligned with Imaginative and prescient 2030.
ABOUT Solar Peak Metals Corp.
Solar Peak is advancing the district-scale Shire VMS Mission within the Tigray Area of northern Ethiopia. The undertaking covers six exploration licenses totaling roughly 1,450 sq. kilometers throughout the extremely potential Arabian-Nubian Protect, the identical geological atmosphere because the Bisha Mine and the Asmara Tasks in Eritrea.
ON BEHALF OF THE BOARD OF DIRECTORS OF Solar Peak Metals Corp.
Greg Davis,
President, CEO & Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Greg Davis
(T): +1 (604) 999 1099
(E): information@sunpeakmetals.com
Neither TSX Enterprise Change nor its Regulation Providers Supplier (as that time period is outlined in insurance policies of the TSX Enterprise Change) accepts duty for the adequacy or accuracy of this launch.
Disclaimer for Ahead-Trying Data
Sure data and statements on this information launch could also be thought-about forward-looking data or forward-looking statements for functions of relevant securities legal guidelines (collectively, “forward-looking statements”), which replicate the expectations of administration concerning its disclosure and amendments thereto. Ahead-looking statements consist of knowledge or statements that aren’t purely historic, together with any data or statements concerning beliefs, plans, expectations or intentions concerning the longer term. Such data or statements could embody, however will not be restricted to: statements of administration of the Firm about the advantages of the Transaction and 2026 exploration plans; that Solar Peak will turn out to be the marquee exploration firm within the Arabian Nubian Protect; the itemizing on the TSXV of the Solar Peak Shares issued to former SDC shareholders. Such statements are topic to dangers and uncertainties that will trigger precise outcomes, efficiency or developments to vary materially from these contained within the statements. No assurance might be on condition that any of the occasions anticipated by the forward-looking statements will happen or, in the event that they do happen, what advantages Solar Peak will receive from them. These forward-looking statements replicate administration’s present views and are based mostly on sure expectations, estimates and assumptions, which can show to be incorrect. Plenty of dangers and uncertainties might trigger precise outcomes to vary materially from these expressed or implied by the forward-looking statements, together with, with out limitation: market, enterprise, operational or financial circumstances. These forward-looking statements are made as of the date of this information launch and, besides as required by relevant securities legal guidelines, Solar Peak assumes no obligation to replace these forward-looking statements, or to replace the the explanation why precise outcomes differed from these projected within the forward-looking statements. Extra details about these and different assumptions, dangers and uncertainties are set out within the “Danger Elements” and “Ahead-Trying Statements” sections of Solar Peak’s steady disclosure filings accessible underneath its profile on SEDAR+ at www.sedarplus.ca.
SOURCE: Solar Peak Metals Corp.
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