Announcement • Jul 03
Avenir Minerals completed the acquisition of remaining 91% stake in Fox River Resources Corporation (CNSX:FOX) from Global Strategic Management Inc. and others. Avenir Minerals entered into a definitive arrangement agreement to acquire remaining 91% stake in Fox River Resources Corporation (CNSX:FOX) from Global Strategic Management Inc. and others for CAD 82.1 million on May 4, 2026. Holders of Fox River Shares will receive CAD 1.10 per Fox River Share payable in cash, for an aggregate purchase price of approximately CAD 94.3 million on a fully-diluted basis. Avenir Minerals and its affiliates currently own 7.2 million Fox River Shares, representing approximately 9.0% of the issued and outstanding Fox River Shares on a non-diluted basis. Each of the directors and officers of Fox River collectively own or exercise control over approximately 23.5% of the issued and outstanding Fox River Shares. Upon closing of the transaction, it is expected that the Fox River Shares will be delisted from the CSE and that Fox River will cease to be a reporting issuer under applicable Canadian securities laws. In case of termination of transaction, Global Strategic Management Inc. will pay a termination fee of CAD 2.5 million.
The transaction is subject to approval of the Ontario Superior Court of Justice and approval of offer by target shareholders. The Board of Directors of Fox River formed a special committee for the transaction. The board of directors of Fox River unanimously recommends that Fox River securityholders vote in favor of the transaction.The transaction is expected to close early in the third quarter of 2026. The transaction is expected to provide Fox River shareholders with immediate liquidity and certainty of value for their investment. It also removes future risks associated with equity dilution, commodities, exploration, development, construction, and execution. On May 20, 2026, Fox River Resources announced that it has obtained an interim order of the Ontario Superior Court of Justice (Commercial List) which provides for the holding of a special meeting of the holders of common shares of Fox River and holders of options to acquire Fox River Shares to consider and vote on a special resolution approving the Arrangement. As of June 17, 2026, Fox River Resources announced that the Ontario Superior Court of Justice has issued an amendment to the interim order of the Court to remove the requirement that only registered shareholders of common shares as of the record date of May 14, 2026 may exercise their dissent rights in connection with the proposed plan of arrangement involving Fox River and Avenir Minerals Limited. The effect of the amended Interim Order is to extend dissent rights in accordance with section 190 of the Canada Business Corporations Act, as modified by the Interim Order, to each Registered Shareholder at the time dissent rights are otherwise validly exercised, irrespective of whether that shareholder was a Registered Shareholder as of the close of business on the Record Date. The transaction is expected to close in the third quarter of 2026. As of June 23, 2026, Fox River Resources Corporation's securityholders approved the transaction. The company expects to seek a final court order on June 24, 2026, and anticipates closing the transaction on July 2, 2026, subject to remaining closing conditions.
Mills Dunlop Capital Partners Ltd. acted as fairness opinion provider for the special committee of Fox River Resources Corporation. Mills Dunlop Capital Partners Ltd. acted as financial advisor for Fox River Resources Corporation. CRM Global Capital Inc. acted as financial advisor for Fox River Resources Corporation. WeirFoulds LLP acted as legal advisor for Fox River Resources Corporation. Davies Ward Phillips & Vineberg LLP acted as legal advisor for Avenir Minerals. TSX Trust Company acted as depository bank for Fox River Resources Corporation.
Avenir Minerals completed the acquisition of remaining 91% stake in Fox River Resources Corporation (CNSX:FOX) from Global Strategic Management Inc. and others on July 2, 2026. Announcement • May 06
Avenir Minerals entered into a definitive arrangement agreement to acquire remaining 91% stake in Fox River Resources Corporation (CNSX:FOX) from Global Strategic Management Inc. and others for CAD 82.1 million. Avenir Minerals entered into a definitive arrangement agreement to acquire remaining 91% stake in Fox River Resources Corporation (CNSX:FOX) from Global Strategic Management Inc. and others for CAD 82.1 million on May 4, 2026. Holders of Fox River Shares will receive CAD 1.10 per Fox River Share payable in cash, for an aggregate purchase price of approximately CAD 94.3 million on a fully-diluted basis. Avenir Minerals and its affiliates currently own 7.2 million Fox River Shares, representing approximately 9.0% of the issued and outstanding Fox River Shares on a non-diluted basis. Each of the directors and officers of Fox River collectively own or exercise control over approximately 23.5% of the issued and outstanding Fox River Shares. Upon closing of the transaction, it is expected that the Fox River Shares will be delisted from the CSE and that Fox River will cease to be a reporting issuer under applicable Canadian securities laws. In case of termination of transaction, Global Strategic Management Inc. will pay a termination fee of CAD 2.50 million.
The transaction is subject to approval of the Ontario Superior Court of Justice and approval of offer by target shareholders. The Board of Directors of Fox River formed a special committee for the transaction. The board of directors of Fox River unanimously recommends that Fox River securityholders vote in favor of the transaction. The transaction is expected to close early in the third quarter of 2026. The transaction is expected to provide Fox River shareholders with immediate liquidity and certainty of value for their investment. It also removes future risks associated with equity dilution, commodities, exploration, development, construction, and execution.
Mills Dunlop Capital Partners Ltd. acted as fairness opinion provider for the special committee of Fox River Resources Corporation. Mills Dunlop Capital Partners Ltd. acted as financial advisor for Fox River Resources Corporation. CRM Global Capital Inc. acted as financial advisor for Fox River Resources Corporation. WeirFoulds LLP acted as legal advisor for Fox River Resources Corporation. Davies Ward Phillips & Vineberg LLP acted as legal advisor for Avenir Minerals. Announcement • Feb 27
Fox River Resources Corporation, Annual General Meeting, Apr 30, 2026 Fox River Resources Corporation, Annual General Meeting, Apr 30, 2026. Announcement • Nov 13
Fox River Resources Corporation Produces Purified Phosphoric Acid from Martison Project, Boosting Canada's Battery Materials Supply Chain Fox River Resources Corporation is excited to announce the successful production of purified phosphoric acid (PPA), a crucial component for the lithium-iron-phosphate (“LFP”) battery supply chain. During this milestone, the Company successfully completed testwork that identified all necessary unit operations required to upgrade merchant grade acid to PPA, laying the groundwork for building a dedicated PPA production facility. The proprietary technology and testing, provided by JESA Technologies LLC, confirmed the suitability of Martison concentrate for PPA production. The envisioned PPA facility is designed for integration within a phosphate fertilizer complex, which will recover byproducts rich in P2O5 through adjustments in product mix and feed compositions throughout the complex. Fox River intends to supply its PPA to prospective LFP battery manufacturers for initial evaluation and testing. Technical Information: The scientific and technical disclosure for Fox River Resources included in this news release have been reviewed and approved by Mr. James Byrd. Mr. Byrd is a chemical engineer and a “Qualified Person” as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects and has verified the data disclosed in this news release. Announcement • Aug 12
Fox River Announces Funding Award from the Critical Minerals Innovation Fund Fox River Resources Corporation announced that the Ontario government has awarded funding through the Critical Minerals Innovation Fund of up to CAD 218,500 for work on the Company's Martison project. The award will be applied toward process test work to convert merchant grade phosphoric acid (“MGA”) into purified phosphoric acid (“PPA”) for use in the LFP battery supply chain. Announcement • Mar 07
Fox River Resources Corporation, Annual General Meeting, Apr 29, 2025 Fox River Resources Corporation, Annual General Meeting, Apr 29, 2025. 
