SolGold PLC Announces Application for Designated Foreign Issuer
Rhea-AI Summary
SolGold (OTC:SLGGF) applied to Canadian securities regulators on November 28, 2025 for a decision to be treated as a designated foreign issuer under NI 71-102 following its voluntary delisting from the Toronto Stock Exchange on June 18, 2025. The company says it meets all NI 71-102 requirements except that Canadian resident ownership slightly exceeds the 10% threshold on a fully diluted basis.
Excluding one Significant Shareholder (who has provided written consent), Canadian ownership would be 6.76% on a fully diluted basis as of August 6, 2025. If granted, the Decision would relieve SolGold from certain Canadian continuous disclosure requirements, provided it files and makes available UK-equivalent disclosure on SEDAR+ and to Canadian securityholders.
Positive
- Applied for NI 71-102 designated foreign issuer exemption on 2025-11-28
- Delisted from Toronto Stock Exchange effective 2025-06-18
- Canadian ownership excluding one holder equals 6.76% as of 2025-08-06
- Significant Shareholder provided written consent to the exemption
Negative
- Canadian resident ownership slightly exceeds the 10% NI 71-102 threshold
- Relief depends on regulator Decision and meeting ongoing SEDAR+ filing conditions
- Outcome timing and approval by multiple provinces remains uncertain
News Market Reaction
On the day this news was published, SLGGF gained 26.87%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Before this news, SolGold was down 1.2% while peers like FREEGOLD VENTURES (+5.58%) and ALMONTY INDS (+4.52%) were up, suggesting stock-specific factors rather than a sector-wide move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 28 | Regulatory status update | Neutral | +26.9% | Applied for designated foreign issuer treatment after TSX delisting. |
In the last six months, the only recorded news event is this application to be treated as a designated foreign issuer under NI 71-102 following SolGold’s voluntary TSX delisting on June 18, 2025. The company indicated Canadian resident ownership slightly exceeded the 10% threshold but would be 6.76% excluding one significant shareholder as of August 6, 2025. Following that disclosure, the stock showed a 26.87% 24-hour price reaction, indicating the market treated the regulatory update as material.
Market Pulse Summary
The stock surged +26.9% in the session following this news. A strong positive reaction aligns with how this regulatory update previously coincided with a 26.87% move in the stock, despite the announcement being largely about disclosure status and jurisdictional treatment. With shares already trading above the 200-day MA and well off the 52-week low, investors may have framed the shift to UK-based disclosure as a structural milestone. However, large prior moves do not guarantee durability, especially if later fundamentals or regulatory outcomes differ.
Key Terms
national instrument 71-102 regulatory
continuous disclosure regulatory
securities commission regulatory
securities laws regulatory
sedar+ regulatory
AI-generated analysis. Not financial advice.
LONDON, UNITED KINGDOM / ACCESS Newswire / November 28, 2025 / SolGold plc (LSE:SOLG) announces that it has applied to the Ontario Securities Commission for a decision (the "Decision") under the securities legislation of Ontario, Alberta, British Columbia, Newfoundland and Labrador, and Nova Scotia (the "Canadian Jurisdictions") granting it an exemption analogous to the "designated foreign issuer" exemption in Part 5 of National Instrument 71-102 - Continuous Disclosure and Other Exemptions Relating to Foreign Issuers ("NI 71-102"). This application follows the Company's voluntary delisting of its ordinary shares from the Toronto Stock Exchange on June 18, 2025.
SolGold currently meets all of the requirements to be a "designated foreign issuer" under NI 71-102 except for one, namely the percentage of the Company's ordinary shares owned, directly or indirectly, by residents of Canada exceeds by a small margin the maximum threshold of
If the Decision is granted, SolGold will be relieved from certain continuous disclosure requirements under Canadian securities laws provided that, among other things, SolGold files on SEDAR+, makes publicly available or provides to its securityholders in Canada all financial statements and other continuous disclosure materials that it is required to file, make publicly available or provide to its securityholders pursuant to the foreign disclosure requirements of the United Kingdom.
CONTACTS
Ryan Wilson | Tel: +41 (0) 41 710 0428 |
ABOUT SOLGOLD
SolGold is a leading resources company focused on the discovery, definition and development of world-class copper and gold deposits and continues to strive to deliver objectives efficiently and in the interests of shareholders.
See www.solgold.com for more information. Follow us on X @SolGold_plc.
CAUTIONARY NOTICE
This release may contain "forward looking information". Forward looking information includes, but is not limited to, statements regarding the Company's plans for developing its properties. Generally, forward looking information can be identified by the use of forward- looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward looking information, including but not limited to: transaction risks; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
The Company and its officers do not endorse, or reject or otherwise comment on the conclusions, interpretations or views expressed in press articles or third-party analysis.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: SolGold PLC
View the original press release on ACCESS Newswire
FAQ
What did SolGold announce about designated foreign issuer status for SLGGF on November 28, 2025?
Why is SolGold seeking designated foreign issuer treatment after delisting SLGGF in Canada?
What percentage of SolGold ordinary shares are owned by Canadian residents for SLGGF?
Does SolGold already meet NI 71-102 requirements for designated foreign issuer status for SLGGF?
What happens if the Canadian Decision is granted for SLGGF?
Has any shareholder agreed to support SolGold's SLGGF exemption application?
