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EDM Resources (OTCQB: EDMFF) announced that the Nova Scotia Department of Environment and Climate Change has issued an amended Industrial Approval for the Scotia Mine, approving the updated mine plan and processing facility for a planned 2027 restart, subject to Fisheries Act Authorization and other conditions.
The amended approval covers a redesigned mine layout, updated processing infrastructure, and enhanced waste rock, tailings and environmental protection systems, supporting the company’s ongoing updated Pre-Feasibility Study. The Scotia Mine is expected to become Nova Scotia’s only primary zinc producer and create about 150 direct jobs during operations, aligning with the province’s Critical Minerals Strategy.
EDM is also advancing an updated mineral resource estimate, project financing and permitting, and has signed a digital investor relations agreement with SWH Digital for up to six months at a total potential cost of US$115,000, to expand investor communications and marketing.
EDM Resources (OTCQB: EDMFF) reported Q2 2026 progress advancing the Scotia Mine toward a production decision. Key updates include Environmental Assessment operational approval for the South West expansion, FAA review moving into First Nations engagement, and expectation of an FAA decision in summer or fall 2026.
Market capitalization rose from $5.9M to $47.2M year-to-date. Warrant and option exercises generated $1.55M, with 80M shares outstanding and remaining warrants representing potential proceeds of about $3.2M. EDM began OTCQB trading, extended its gypsum offtake start to December 31, 2027, and advanced exploration, MRE and PFS work.
EDM Resources (OTCQB: EDMFF) reported that directors, insiders and major shareholders exercised common share purchase warrants, generating approximately $1.5 million in gross proceeds at an exercise price of $0.14 per share.
According to EDM, the funds will support advancing the Scotia Mine, permitting, an updated Pre-Feasibility Study, gold exploration and working capital.
The company still has about 22.6 million warrants outstanding at $0.14, representing potential additional proceeds of roughly $3.2 million if fully exercised.
EDM Resources (OTCQB: EDMFF) began trading on the OTCQB Venture Market in the U.S. on June 2, 2026. The company aims to advance the Scotia Mine toward production while broadening access to U.S. investors.
According to EDM, the listing is expected to enhance liquidity, increase U.S. market visibility, support cross-border trading alongside its TSXV and Frankfurt listings, and strengthen its capital markets platform. EDM shares are expected to become DTC eligible within the month, which should facilitate more efficient electronic clearing and settlement for U.S. investors.