- Enduro Metals Corporation completes acquisition of Commander Resources Ltd. (CMDRF, Financial).
- Former Commander shareholders now hold approximately 45.65% of Enduro's outstanding shares.
- Registered Commander shareholders must complete a letter of transmittal to receive new Enduro shares.
Enduro Metals Corporation has finalized its acquisition of Commander Resources Ltd. (CMDRF) through a court-sanctioned plan of arrangement as of May 30, 2025. As part of the agreement, Commander shareholders exchanged each Commander share for 0.535 of an Enduro share. This resulted in the issuance of 23,692,393 Enduro shares to previous Commander shareholders, who now maintain approximately 45.65% ownership of the newly combined entity's total 51,885,012 outstanding shares post-acquisition.
The acquisition also involved the adjustment and conversion of Commander options into Enduro options, aligning with the exchange ratio. For registered Commander shareholders, a letter of transmittal must be completed and submitted to Computershare Investor Services Inc. to obtain their allocated Enduro shares. Conversely, non-registered shareholders need not take any actions as shares will be automatically transferred to them via their respective intermediaries.
Following the transaction's completion, Commander has initiated the process to cease being a reporting issuer, which will affect its public market status. The legal and financial advisors for this transaction included Pushor Mitchell LLP for Enduro and GenCap Mining Advisory Ltd. alongside Koffman Kalef LLP for Commander.
Enduro Metals focuses its efforts on the Newmont Lake Project located in British Columbia's Golden Triangle, where significant deposit environments have been identified.
