Matachewan and McChip Acquire 42.7 Million Labrador Gold Shares in First Tranche

Matachewan Consolidated Mines, Limited and McChip Resources Inc. Acquired 42,675,809 common shares of Labrador Gold Corp. For $2.1 million.45 in the first tranche of a non-brokered private placement, the companies said in a GlobeNewswire release. The shares were issued on a flow-through basis at $0.05 each.

Matachewan and McChip's Labrador Gold Subscription

Matachewan acquired 21,337,905 shares for $1.1 million.25 and McChip acquired 21,337,904 shares for $1.1 million.20, each at $0.05 per share under a subscription agreement with Labrador Gold. Each acquiror holds approximately 9.995% of the issued and outstanding shares on a non-diluted basis, and together they hold approximately 19.99%. Neither owned or controlled any shares immediately before the closing.

Raymond D. Harari was appointed a director of Labrador Gold in connection with the first tranche and is anticipated to be appointed President at a later date. The acquirors are joint actors and hold the shares as a strategic investment. They intend to subscribe for additional shares on a non-flow-through basis in the second tranche under the Investor Rights Agreement dated October 19, 2026, such that they collectively hold approximately 19.99% of the issued and outstanding shares following its completion, subject to the cap in that agreement, TSXV acceptance and applicable law.

TradingView reported that the deal raised $2.13 million in gross proceeds and that Harari joined the board with a potential appointment as president. Labrador Gold closed the first tranche of the placement, raising $2.1 million, and expects the final tranche to close on October 23, 2026, according to the Financial Post.

Matachewan's Earlier Filings and Board Changes

Matachewan announced on August 25, 2026 that it will adopt the semi-annual financial reporting pilot program under Coordinated Blanket Order 51-933, which exempts eligible venture issuers from quarterly reporting, the Financial Post reported. On August 6, 2026, Matachewan acquired 1,149,300 common shares of McChip Resources Inc. In a private transaction at CDN$0.7608 per share for aggregate consideration of $874,440, according to GlobeNewswire. Matachewan announced the appointment of Fraser Hartley and Dennis Beker as independent directors effective July 31, 2026, with Ed Dumond resigning after 34 years of service, GlobeNewswire reported.

Empress Royalty's Tongon Gold Stream Closing

Empress Royalty Corp. Closed its acquisition of the Tongon gold stream in Côte d'Ivoire and completed debt financing with Appian Capital Advisory, raising 2026 production guidance to 8,000-8,500 attributable gold equivalent ounces from 7,045-7,430, the FinancialContent Business Page reported on October 19, 2026. Empress expects an updated life-of-mine plan by December 2026.

Labrador Gold's Second Tranche Closing Date

Labrador Gold expects the final tranche of the private placement to close on October 23, 2026, according to the Financial Post.