Fulcrum Metals (FMET): Tully disposal deferred consideration

What is happening

Fulcrum Metals: Tully disposal deferred consideration – Settlement agreed 10 Nov 2026; 13.4m shares to issue. ['Settlement agreed 10 Nov 2026; 13.4m shares to issue']

In short

Fulcrum sold the Tully Gold Project to Loyalist. On 8 Jul 2026 the Tully resource passed the 200,000 oz threshold, triggering 15m Loyalist shares or cash. On 10 Nov 2026 the parties agreed to issue 13.4m shares now, lifting Fulcrum to about 19.9%, with 1.6m deferred to stay below 20%. Fulcrum keeps further milestones and a 2% NSR.

Announced

10 Nov 2026 · Settlement agreed 10 Nov 2026; 13.4m shares to issue

Shares due

15,000,000 Loyalist shares or cash in lieu; 13,400,000 issued initially, 1,600,000 deferred

Holding after issue

92,372,740 Loyalist shares, approximately 19.9% (from 78,972,740)

Why deferred

To keep Fulcrum's ownership below 20% of Loyalist's issued share capital

Milestones

C$50,000 financing milestone; C$100,000 for a 6 g/t gold over 8 m intercept; 15,000,000 shares or cash on decision to mine

Royalty

Retained 2% NSR over Tully; Loyalist may repurchase 1% for C$1 million, subject to contractual adjustment

Trigger

Updated Tully resource above the 200,000 oz threshold, announced 8 Jul 2026

What comes next

Issue 1.6m deferred Loyalist shares as capacity allows; further milestones.

From the company's own announcements. Not investment advice.