Defense Metals Stock Price, News & Analysis

Defense Metals (OTCQB: DFMTF) provided a business update on Oct 6, 2025 outlining progress since its May 2025 private placement and PFS release for the Wicheeda rare earth project.

Key points: PFS-compliant proven mineral reserves position Wicheeda as the most advanced undeveloped REE project in North America/Europe; the company plans to start a Definitive Feasibility Study in H1 2026 and is performing metallurgical optimization and site-selection work for a hydro-metallurgical plant; ongoing indigenous engagement with McLeod Lake Indian Band continues under a 2024 Joint Co-Design Agreement.

Financing and partnerships: an MoU for a significant supply agreement is in place; Export Development Canada issued a Letter of Interest for up to US$250 million as Mandated Lead Arranger; the company reports it is debt free with positive working capital. Corporate: AGM held Sept 24, 2025 elected Maryanne Crichton and approved a 10% rolling omnibus plan.

Defense Metals (OTCQB:DFMTF) has entered into a shares-for-debt settlement agreement with HCF International Advisers Limited to resolve outstanding debt for financial advisory services. The company will issue 988,750 common shares at $0.16 per share and 494,375 warrants to settle $158,200 in payables.

Each warrant allows HCF to purchase one additional common share at $0.21 per share within 36 months of issuance. The Settlement Shares and Warrants will have a six-month hold period. The transaction requires final TSX Venture Exchange approval.

Defense Metals (OTCQB: DFMTF) has entered into a shares-for-debt settlement agreement with Hatch Ltd. to settle $846,547.31 in outstanding payables through the issuance of 5,290,920 common shares at $0.16 per share. Additionally, the company will issue 2,645,460 warrants at $0.21 per share, exercisable for 36 months.

The agreement includes a six-month hold period for the shares and warrants. Defense Metals has also indicated its intention to engage Hatch for engineering services for the full feasibility study of its Wicheeda Rare Earth Element Project in British Columbia, subject to agreeable commercial terms.

Defense Metals Corp. (DFMTF) has appointed David Baker as CFO and Head of Strategy, effective August 1, 2025. Baker brings over 20 years of experience from the Ivanhoe Mines group, including roles as VP Treasurer during the Oyu Tolgoi Copper mine development and CFO of VRB Energy. His recent position as CFO at Camino Mineral Resources led to a successful copper project acquisition. Baker holds a Bachelor of Economics, is a Chartered Accountant from Australia, and completed an MBA at UBC. Executive Chairman Guy de Selliers praised Baker's competence and integrity, while CEO Mark Tory emphasized their complementary skills. Baker expressed enthusiasm about developing the Wicheeda rare earth project, which he considers North America's premier new rare earth project.

Defense Metals Corp. (DFMTF) has received a Letter of Interest from Export Development Canada (EDC) for potential debt financing of up to US$250 million to support the development and construction of its Wicheeda Rare Earth Element Project in British Columbia. The LOI follows Defense Metals' request for financing support and is based on company information and ongoing discussions. EDC, a self-sustaining Crown corporation, has participated in over 540 structured and project finance transactions worth over US$40 billion in the past 25 years. The company's pre-feasibility study from April 7, 2025, demonstrates the project's financial robustness. The proposed financing remains subject to due diligence completion.

Defense Metals has announced a significant development in its rare earth elements project by signing a non-binding memorandum of understanding (MOU) with a major potential strategic partner on April 25, 2025. The agreement focuses on entering into a supply arrangement that would represent a substantial portion of the company's planned production output.

Key highlights:

• The MOU follows the company's recently published detailed pre-feasibility study for the Wicheeda project
• The development signals growing industry confidence in Wicheeda as a strategically important rare earth elements source
• Company President and CEO Mark Tory views this as a major step forward, while acknowledging more work lies ahead

Trading under symbols TSXV: DEFN, OTCQB: DFMTF, and FSE: 35D, Defense Metals is positioning itself as a potential key player in the rare earth elements market. This strategic partnership opportunity demonstrates market validation for the Wicheeda project's potential, though the company emphasizes that significant development work remains to bring the project to fruition.

Defense Metals Corp. (TSX.V: DEFN) has announced a private placement financing initiative targeting up to $8 million through a best efforts offering, alongside a concurrent non-brokered financing of up to $1 million. The offering includes up to 11,765,000 flow-through units at $0.17 per unit and up to 40,000,000 hard dollar units at $0.15 per unit.

Each unit type includes one common share and half a purchase warrant, with warrants exercisable at $0.20 for 3 years. The proceeds will fund the Wicheeda Project, including optimization, environmental work, and permitting. Paradigm Capital Inc. will lead the offering as agent, receiving a 7% commission (3.5% for President's List investors) and compensation options. The offering is expected to close around May 12, 2025, subject to regulatory approvals.

Defense Metals Corp (TSXV: DEFN) (OTCQB: DFMTF) has announced it will issue 640,097 common shares to holders of secured convertible notes as interest payment. The interest payment amounts to C$98,632.55 as of April 11, 2025.

The Interest Shares will be issued at C$0.15409 per share, determined by the greater of the 20-day volume-weighted average trading price on TSXV or the lowest price permitted under TSXV policies. The Notes are set to mature on October 11, 2025. The issuance is pending TSXV approval.

Defense Metals Corp. (TSXV: DEFN) (OTCQB: DFMTF) has filed a Pre-Feasibility Study (PFS) technical report for its 100% owned Wicheeda Rare Earth Element Deposit near Prince George, British Columbia. The report, effective February 28, 2025, expands the evaluation from four key elements (Nd, Pr, Dy, Tb) to all rare earth elements present in the final mixed rare earth carbonate product.

The updated technical and financial outcomes show changes within 3.5% of the previous February 18, 2025 announcement, deemed non-material. The project has received strong support from both the McLeod Lake Indian Band and BC's Minister of Mining and Critical Minerals, highlighting its potential as a significant global supplier of rare earth elements.

The comprehensive report, prepared in accordance with NI 43-101 standards, is now available on SEDAR+ and the company's website. Additionally, the company announced the resignation of Interim CFO Alex Heath, with Ryan Cheung stepping in temporarily until a replacement is appointed.