on Sun Peak Metals Corp. (CVE:PEAK)
Sun Peak Metals to Acquire Saudi Discovery
Sun Peak Metals Corp. has announced a definitive agreement to acquire Saudi Discovery Company SPV Limited. Under the agreement, Sun Peak will issue 58,065,356 common shares in exchange for all of Saudi Discovery's shares. Post-transaction, Sun Peak and former Saudi Discovery shareholders will hold approximately 60% and 40% of the merged entity, respectively.
The acquisition awaits customary approvals and is expected to conclude in early December. It involves a related party transaction as some directors overlap. The approval will be sought in a special meeting on December 1, 2025.
The transaction aligns with Saudi Vision 2030, enhancing Sun Peak's strategic footprint. Legal advisors include DLA Piper for Sun Peak and Cozen O'Connor for Saudi Discovery.
R. H.
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