Canada's Twenty Mile Metals to List on TSX Venture Exchange

en.Wedoany.com Reported - Canadian mining company Twenty Mile Metals Inc. has announced that its common shares have been approved for listing on the TSX Venture Exchange, with trading expected to commence around the opening on June 24, 2026, under the ticker symbol "MILE." The company was established through the spin-out of the Twenty Mile project from J2 Metals Inc., completed via a plan of arrangement sanctioned by a court under the Business Corporations Act (British Columbia), in accordance with the terms of an arrangement agreement entered into between the company and J2 on October 24, 2025.

Under the arrangement, 4,928,959 MILE shares were allocated to former shareholders of J2, with an additional 71,041 shares held by J2 as a reserve for issuance to holders of J2 warrants on the effective date of the arrangement.

Prior to the completion of the arrangement, the company completed a non-brokered private placement, issuing 5,200,000 subscription receipts at a price of C$0.10 each, for total gross proceeds of C$520,000. No finder's fees were paid in connection with the private placement. Upon receiving conditional approval from the TSX Venture Exchange for the listing of MILE shares, each subscription receipt was converted into one unit of the company. Each unit consists of one MILE share and one warrant, with each warrant entitling the holder to purchase one additional MILE share at a price of C$0.15 per share, exercisable until June 8, 2029. If the closing price of MILE shares exceeds C$0.25 per share for 10 consecutive trading days, the company may issue a notice shortening the warrant exercise period to 30 days following such notice.

A listing application dated June 18, 2026, regarding the company, has been prepared in accordance with the policies of the TSX Venture Exchange and is available under the company's profile on SEDAR+.

Twenty Mile Metals Inc. is primarily engaged in the acquisition and exploration of mineral natural resource assets, with a focus on the Twenty Mile mineral claims.

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