StrikePoint Gold Inc. (TSXV: SKP | OTCQB: STKXF) has announced a ten-for-one share consolidation effective October 2, 2026, alongside an anticipated October 6 closing of its acquisition of the Northumberland Gold Project in Nevada from subsidiaries of Newmont Corporation. The company also confirmed a $190,000,000 bought deal of subscription receipts has been completed to fund the purchase. Once the transaction closes, StrikePoint expects to hold approximately C$90 million in cash to advance an aggressive work programme at Northumberland, a project that has been idle for more than 15 years.

Key Points

  • StrikePoint Gold Inc. (TSXV: SKP | OTCQB: STKXF)
  • Ten-for-one share consolidation effective October 2, 2026; Northumberland acquisition expected to close on or about October 6, 2026
  • Post-consolidation shares outstanding approximately 7,239,238; approximately 102.2 million shares upon subscription receipt conversion
  • Investors should watch for TSX Venture Exchange final approval and the lifting of the current trading halt

StrikePoint's Ten-for-One Share Consolidation Takes Effect October 2

The consolidation will apply to all issued and outstanding common shares, options, and warrants on a ten pre-consolidation securities to one post-consolidation security basis. Following the consolidation, StrikePoint will have approximately 7,239,238 common shares outstanding. Fractional interests of 0.50 or higher will be rounded up to one whole share, while those below 0.50 will be cancelled. The new CUSIP number is 86332K509 and the new ISIN is CA86332K5098. Registered shareholders holding physical certificates will receive transmittal instructions from transfer agent Computershare Trust Company of Canada.

Northumberland Acquisition from Newmont Subsidiaries Targeted for October 6

StrikePoint anticipates closing the previously announced acquisition of the Northumberland Gold Project in Nevada from subsidiaries of Newmont Corporation on or about October 6, 2026. The $190,000,000 bought deal financing, completed to fund the purchase, will release funds concurrent with closing. Once subscription receipts convert into shares, total shares outstanding are expected to reach approximately 102.2 million. Trading in StrikePoint shares remains halted pending final TSX Venture Exchange approval and transaction close.

C$90 Million Cash Position to Drive Northumberland Work Programme

President and CEO Michael G. Allen, who is also a qualified person under NI 43-101, stated in the release that following the acquisition StrikePoint will have approximately C$90 million in cash to undertake a comprehensive work programme. Planned activities include resource expansion and infill drilling and technical, economic, and environmental studies. The company describes Northumberland, located in Nevada's Walker Lane, as having been idle for more than 15 years and as an opportunity to define a gold project of significant scale in what the release characterises as a mining-friendly jurisdiction.

Amended Technical Report Filed With No Material Changes

At the request of the TSX Venture Exchange, StrikePoint has filed an amended NI 43-101 technical report titled "NI 43-101 Technical Report Northumberland Gold Project, Nevada, USA." The company confirmed there were no material changes to the technical report. All technical and scientific data in the announcement were reviewed and approved by Michael G. Allen, P.Geo, in his capacity as a qualified person as defined under NI 43-101.