Announcement • Jul 15
Metalite Resources Inc. (CNSX:METL) completed the acquisition of Launay Gold Corp. from Cachee Gold Mines Corp. Metalite Resources Inc. (CNSX:METL) entered into a non-binding letter of intent to acquire Launay Gold Corp. from Cachee Gold Mines Corp. for CAD 2.4 million on March 23, 2026. Metalite Resources Inc. entered into a definitive agreement to acquire Launay Gold Corp. from Cachee Gold Mines Corp. on June 19, 2026. The consideration consists of 6 million common equity of Metalite Resources Inc. to be issued for common equity of Launay Gold Corp.
Following the acquisition, the board of directors of Metalite will consist of five (5) directors, four (4) of whom will be nominees of Metalite and one (1) of whom will be a nominee of Cachee, subject to applicable regulatory approvals. Cachee's director nominee is also expected to take on the role of Chairman of Metalite's board of directors. No changes to the existing management of Metalite are anticipated. Alex Storcheus will be appointed Chairman of the board of directors of Metalite Resources Inc. No finder’s fee is payable by the Company in connection with the Transaction.
The transaction is subject to consummation of due diligence investigation, approval by regulatory board / committee including Canadian Securities Exchange, approval of merger agreement by target board, approval of offer by acquirer shareholders, approval of offer by acquirer board and definitive agreement. The Company currently expects the Transaction to close after the expiry of the required five-business-day period following the filing of all applicable documents under CSE policies.
Metalite Resources Inc. (CNSX:METL) completed the acquisition of Launay Gold Corp. from Cachee Gold Mines Corp. on July 13, 2026. Announcement • Jun 24
Metalite Resources Inc. Announces Board Changes Metalite Resources Inc. announced that pursuant to the Definitive Agreement, the board of directors of Metalite would be reconstituted following the Closing Date and would comprise five directors, four of whom would be nominated by Metalite and one of whom would be nominated by Cachee, subject to applicable regulatory requirements and approvals. Alex Storcheus would be appointed Chairman of the board of directors of Metalite. Mr. Storcheus is Cachee's nominee to the board. Mr. Storcheus has worked at FMI Capital Partners, a private merchant and investment banking group based in Toronto, since 2010, and is currently Partner and COO. His experience includes financial and strategic advisory activities in the small-cap space, including mergers and acquisitions and going-public transactions. Mr. Storcheus currently serves as Director and CEO of Cachee and is a CFA charterholder. New Risk • May 31
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$401k This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$401k free cash flow). Shares are highly illiquid. Shareholders have been substantially diluted in the past year (234% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$2.80m market cap, or US$2.03m). 
