Electric Metals Confirms Non-Binding MOU Regarding Corcoran Canyon Property

Rhea-AI Summary

Electric Metals (OTCQB:EMUSF, TSXV:EML) confirmed a recently publicized memorandum of understanding relating to a potential sale of its Corcoran Canyon silver-gold property in Nevada.

The MOU dated December 4 and executed December 5, 2025 is described as non-binding, non-exclusive and cancellable by either party at any time. No payments or obligations arise unless a definitive agreement is executed, and the company said there is no assurance a transaction will be completed.

The company also confirmed the MOU does not constitute a material change in its affairs.

News Market Reaction

+6.25%

1 alert

+6.25% News Effect

On the day this news was published, EMUSF gained 6.25%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

MOU date: December 4, 2025 MOU execution date: December 5, 2025 Private placement size: C$4.0 million +5 more

8 metrics

MOU date December 4, 2025 Date of non-binding Corcoran Canyon MOU

MOU execution date December 5, 2025 Execution date of the MOU

Private placement size C$4.0 million Non-brokered private placement closed October 24, 2025

Units issued 13,330,000 units Units issued at C$0.30 in October 24, 2025 placement

Unit price $0.30 per Unit Price paid by Eric Sprott on October 24, 2025

NPV(10%) US$1.39B After-tax NPV from North Star Manganese PEA

IRR 43.5% After-tax IRR from North Star Manganese PEA

Initial CapEx US$474.8M Initial capital cost in North Star Manganese PEA

Market Reality Check

Price: $0.3400 Vol: Volume 74,050 vs 20-day a...

high vol

$0.3400 Last Close

Volume Volume 74,050 vs 20-day average 44,856 (relative volume 1.65) indicates elevated trading activity before this clarification. high

Technical Price at $0.2499 is trading above the 200-day MA of $0.16, despite a -7.8% move over 24h.

Peers on Argus

EMUSF fell 7.8% while silver peers showed mixed moves: KUYAF -1.87%, ISVLF +1.96...

EMUSF fell 7.8% while silver peers showed mixed moves: KUYAF -1.87%, ISVLF +1.96%, EXNRF -0.75%, SLVRF +12.84%, APGOF -7.67%, suggesting stock-specific dynamics rather than a broad silver-sector move.

Historical Context

5 past events · Latest: Dec 08 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Dec 08	Asset MOU update	Neutral	+6.3%	Company confirmed non-binding, cancellable MOU for Corcoran Canyon property.
Oct 27	Insider accumulation	Positive	+31.5%	Eric Sprott disclosed buying 3,333,333 units, raising ownership above 10%.
Oct 24	Private placement close	Positive	+31.5%	Closed C$4.0M non-brokered placement to fund project and corporate work.
Oct 23	Financing announcement	Negative	+1.4%	Announced up to C$4.0M equity financing, implying potential dilution.
Oct 06	PEA filing	Positive	-1.5%	Filed NI 43-101 PEA with strong NPV, IRR, and HPMSM project metrics.

Pattern Detected

Recent news often triggered notable price swings, with insider buying and financing events aligning with strong gains, while technically positive project economics and financing announcements sometimes saw muted or negative reactions.

Recent Company History

This announcement clarifying the non-binding, non-exclusive Corcoran Canyon MOU follows several capital and project milestones. In October 2025, Electric Metals announced and then closed a non-brokered private placement of up to C$4.0 million, coinciding with strong positive price reactions. An October 24, 2025 early warning filing detailed Eric Sprott’s increased ownership, also accompanied by sizable gains. Earlier, on October 6, 2025, the company reported a robust NI 43-101 PEA for the North Star Manganese Project, but the stock dipped, showing that strong project metrics have not always translated into immediate share price strength.

Market Pulse Summary

The stock moved +6.3% in the session following this news. A strong positive reaction aligns with pri...

Analysis

The stock moved +6.3% in the session following this news. A strong positive reaction aligns with prior instances where Electric Metals’ financing and ownership updates sparked significant gains, such as the 31.46% move around the October private placement and insider buying. However, the company’s statement that the Corcoran Canyon MOU is non-binding, cancellable, and not a material change highlights its preliminary nature. Past divergence on fundamentally strong news, like the PEA filing, suggests that enthusiasm around single announcements has not always persisted.

Key Terms

memorandum of understanding, non-binding, non-exclusive, definitive agreement, +1 more

5 terms

memorandum of understanding regulatory

"confirms that a recently publicized memorandum of understanding (the "MOU")"

A memorandum of understanding (MOU) is a formal agreement between two or more parties that outlines their shared intentions and plans to work together. It acts like a handshake in writing, clarifying each side’s roles and expectations before any official contract is signed. For investors, an MOU signals that parties are serious about collaboration, which can influence future business opportunities and potential growth.

non-binding regulatory

"The MOU, dated December 4 and executed on December 5, 2025, is non-binding,"

"Non-binding" describes an agreement or statement that does not legally require the parties involved to follow through with its terms. It’s like a handshake or a written promise that shows intent but isn’t enforceable by law. For investors, understanding whether an agreement is binding or non-binding helps gauge how seriously the parties are committed and how much weight to give to the promises made.

non-exclusive regulatory

"The MOU, dated December 4 and executed on December 5, 2025, is non-binding, non-exclusive,"

Non-exclusive describes an arrangement where a party keeps the right to work with others or grant the same rights to multiple partners, rather than giving a sole or exclusive right. For investors, non-exclusive deals can speed distribution and reduce reliance on one counterparty, but may limit upside and strategic control because the same product, service or right can be sold or licensed to others.

definitive agreement regulatory

"subject to negotiation and execution of a definitive agreement."

A definitive agreement is a formal, legally binding document that outlines the final terms and conditions of a deal or transaction, such as a sale or partnership. It acts like a detailed contract that confirms all parties have agreed on the key details, making the deal official. For investors, it signals that the agreement is settled and moving toward completion, providing clarity and security about the transaction.

material change regulatory

"The Company confirms that the MOU does not constitute a material change in the Company's affairs."

A material change is any development or fact about a company—such as a big shift in finances, operations, leadership, contracts, or legal exposure—that a reasonable investor would consider important when deciding to buy, sell or hold the stock. It matters because regulators and markets expect prompt disclosure so investors can react; think of it like a dashboard warning light that signals you may need to change course to avoid loss or seize an opportunity.

AI-generated analysis. Not financial advice.

VANCOUVER, BC / ACCESS Newswire / December 8, 2025 / Electric Metals (USA) Limited ("EML" or the "Company") (TSXV:EML)(OTCQB:EMUSF) confirms that a recently publicized memorandum of understanding (the "MOU") relating to the potential sale of the Company's Corcoran Canyon silver-gold property in Nevada was announced by an unrelated third party and had not previously been disclosed by the Company. The MOU, dated December 4 and executed on December 5, 2025, is non-binding, non-exclusive, and cancellable by either party at any time, and is preliminary in nature and subject to negotiation and execution of a definitive agreement. No payments, expenditures, or other obligations are required unless such definitive agreement is executed, and there can be no assurance that the parties will enter into a definitive agreement or that any transaction will be completed. The Company confirms that the MOU does not constitute a material change in the Company's affairs.

About Electric Metals (USA) Limited
Electric Metals (USA) Limited (TSXV:EML)(OTCQB:EMUSF) is a U.S.-based critical minerals company advancing manganese and silver projects that support the electrification of everything. The Company's principal asset is the Emily manganese deposit in Minnesota, the highest-grade manganese deposit in North America. The North Star Manganese Project is a 100% U.S. domestic project, comprising a manganese mine in Emily, Minnesota, and a high-purity manganese sulfate monohydrate (HPMSM) chemical plant in the U.S. It has been the subject of extensive technical work, including a Preliminary Economic Assessment prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Electric Metals' mission is to establish an entirely domestic U.S. supply of high-purity manganese chemical and metal products for the North American electric vehicle, battery, technology, and industrial markets. With manganese playing an increasingly important role in lithium-ion battery formulations, and with no current domestic production in North America, the development of the North Star Manganese Project represents a strategic opportunity for the United States, the State of Minnesota, and the Company's shareholders.

For further information, please contact:
Electric Metals (USA) Limited
Brian Savage
CEO & Director
(303) 656-9197

Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information includes statements related to the potential sale of the Company's Corcoran Canyon silver-gold property in Nevada, the negotiation or execution of a definitive agreement, the possible terms of any such definitive agreement, and the completion of any potential transaction. Forward-looking information is based on a number of assumptions. It is subject to a variety of known and unknown risks, uncertainties, and other factors that could cause actual results and events to differ materially from those anticipated in such forward-looking information. There can be no assurance that the parties will negotiate or enter into a definitive agreement, that any transaction will occur, or that any contemplated transaction will be completed on the terms contemplated, or at all.

Forward-looking information is based on reasonable assumptions, estimates, and expectations of management at the time the information is provided. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that could cause results not to be as anticipated, estimated or intended. Readers are cautioned not to place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Electric Metals (USA) Limited

View the original press release on ACCESS Newswire

FAQ

What did Electric Metals (EMUSF) announce about Corcoran Canyon on December 8, 2025?

Electric Metals confirmed a publicized MOU dated Dec 4 and executed Dec 5, 2025 regarding a potential sale of the Corcoran Canyon property and said it is non-binding and cancellable.

Does the Dec 5, 2025 MOU with Electric Metals (EMUSF) create any payment or obligation?

No — the company said no payments, expenditures, or other obligations are required unless a definitive agreement is executed.

Is the Corcoran Canyon MOU for Electric Metals (EMUSF) considered a material change?

The company confirmed the MOU does not constitute a material change in its affairs.

What is the legal status of the Corcoran Canyon MOU announced by Electric Metals (EMUSF)?

The MOU is described as non-binding, non-exclusive, and cancellable, and is preliminary and subject to negotiation of a definitive agreement.

Will Electric Metals (EMUSF) definitely sell the Corcoran Canyon property after the MOU?

No — the company stated there is no assurance the parties will enter into a definitive agreement or complete any transaction.

When was the Corcoran Canyon MOU reportedly executed for Electric Metals (EMUSF)?

The MOU is dated December 4, 2025 and was executed on December 5, 2025.