Sun Peak Metals And Saudi Discovery Company Announce Strategic Business Combination, Creating A Leading Arabian Nubian Shield Exploration And Development Company
Sun Peak Metals (OTCQB:SUNPF) and Saudi Discovery Company (SDC) have announced a strategic business combination to create a leading exploration company focused on the Arabian-Nubian Shield. Through this merger, Sun Peak will acquire all SDC shares, with current Sun Peak shareholders owning 60% of the combined entity and SDC shareholders holding 40%.
SDC brings 340 km² of exploration licenses across six projects in Saudi Arabia, plus pending licenses covering an additional ~700 km². Early sampling has revealed impressive results, including up to 17g/t Au, 7% Cu, 19% Zn, and 240g/t Ag. Sun Peak contributes its 1,450 km² Shire Project in Ethiopia, consisting of six exploration licenses.
The combined company will leverage Sun Peak's technical expertise and SDC's first-mover advantage in Saudi Arabia's newly opened mining sector, which has an estimated $2.5 trillion in untapped mineral wealth. The merged entity will maintain headquarters in Vancouver with a seven-member board.
Sun Peak Metals (OTCQB:SUNPF) e Saudi Discovery Company (SDC) hanno annunciato una fusione strategica per creare una principale azienda esplorativa focalizzata sul Rift arabo-nubiano. Attraverso questa fusione, Sun Peak acquisirà tutte le azioni SDC, con gli azionisti attuali di Sun Peak che possederanno 60% dell'entità combinata e gli azionisti di SDC 40%.
SDC porta 340 km² di licenze di esplorazione su sei progetti in Arabia Saudita, oltre a licenze in sospeso che coprono ulteriori ~700 km². I campioni iniziali hanno rivelato risultati notevoli, tra cui fino a 17g/t Au, 7% Cu, 19% Zn e 240g/t Ag. Sun Peak contribuisce con il suo Progetto Shire di 1.450 km² in Etiopia, composto da sei licenze di esplorazione.
La società combinata sfrutterà l'expertise tecnica di Sun Peak e il vantaggio di first-mover di SDC nel neonato settore minerario dell'Arabia Saudita, che dispone di una ricchezza minerale non sfruttata stimata in $2,5 trilioni. La nuova entità avrà la sede a Vancouver e un consiglio di amministrazione di sette membri.
Sun Peak Metals (OTCQB:SUNPF) y Saudi Discovery Company (SDC) han anunciado una fusión estratégica para crear una empresa líder en exploración enfocada en el Escudo Arábigo-Nubiano. A través de esta fusión, Sun Peak adquirirá todas las acciones de SDC, con los accionistas actuales de Sun Peak poseyendo 60% de la entidad combinada y los accionistas de SDC 40%.
SDC aporta 340 km² de licencias de exploración en seis proyectos en Arabia Saudita, además de licencias pendientes que cubren aproximadamente ~700 km². Las pruebas iniciales han mostrado resultados impresionantes, incluyendo hasta 17g/t Au, 7% Cu, 19% Zn y 240g/t Ag. Sun Peak aporta su 1.450 km² Proyecto Shire en Etiopía, compuesto por seis licencias de exploración.
La empresa combinada aprovechará la experiencia técnica de Sun Peak y la ventaja de ser pioneros de SDC en el recientemente abierto sector minero de Arabia Saudita, que cuenta con una riqueza mineral no explotada estimada en $2,5 billones. La entidad fusionada mantendrá su sede en Vancouver con un consejo de siete miembros.
Sun Peak Metals (OTCQB:SUNPF) 와 Saudi Discovery Company (SDC) 는 Arabian-Nubian Shield에 초점을 맞춘 선도적 탐사 회사를 만들기 위한 전략적 비즈니스 결합을 발표했습니다. 이 합병을 통해 Sun Peak은 SDC 주식을 모두 취득하게 되며, 합병된 법인의 지분은 현 Sun Peak 주주가 60%, SDC 주주가 40%를 보유하게 됩니다.
SDC는 사우디아라비아 전역 6개 프로젝트에 걸친 340 km²의 탐사 면허와 추가로 약 700 km²의 대기 면허를 보유합니다. 초기 샘플링에서는 Au 17 g/t, Cu 7%, Zn 19%, Ag 240 g/t와 같은 인상적인 결과가 확인되었습니다. Sun Peak은 에티오피아의 1,450 km² Shire 프로젝트(6개 탐사 면허)도 제공합니다.
합병된 회사는 Sun Peak의 기술 전문성과 사우디아라비아의 새로 개방된 채굴 부문에서 SDC의 선도자 이점을 활용할 것이며, 이 부문은 미개발 광물부의 가치를 2.5조 달러로 추정하고 있습니다. 결합된 법인의 본사는 밴쿠버에 두고 이사회는 7인으로 구성됩니다.
Sun Peak Metals (OTCQB:SUNPF) et Saudi Discovery Company (SDC) ont annoncé une opération de fusion-stratégie pour créer une entreprise leader dans l'exploration axée sur le Bouclier Arabo-Nubien. À travers cette fusion, Sun Peak acquerra toutes les actions de SDC, les actionnaires actuels de Sun Peak détenant 60% de l'entité combinée et les actionnaires de SDC 40%.
SDC apporte 340 km² de licences d'exploration réparties sur six projets en Arabie Saoudite, ainsi que des licences en attente couvrant environ ~700 km². Les échantillonnages préliminaires ont révélé des résultats impressionnants, incluant jusqu'à 17 g/t Au, 7% Cu, 19% Zn et 240 g/t Ag. Sun Peak apporte son Projet Shire en Éthiopie de 1.450 km², composé de six licences d'exploration.
La société combinée tirera parti de l'expertise technique de Sun Peak et de l'avantage de pionnier de SDC dans le secteur minier récemment ouvert en Arabie Saoudite, estimé à 2,5 trillions de dollars de ressources minières inexploitées. La société fusionnée maintiendra son siège à Vancouver et disposera d'un conseil d'administration composé de sept membres.
Sun Peak Metals (OTCQB:SUNPF) und Saudi Discovery Company (SDC) haben eine strategische Unternehmenszusammenführung angekündigt, um ein führendes Explorationsunternehmen mit Fokus auf dem Arabisch-Nubischen Schild zu schaffen. Durch diese Fusion wird Sun Peak alle SDC-Aktien übernehmen, wobei die aktuellen Sun Peak-Aktionäre 60% der kombinierten Einheit halten und SDC-Aktionäre 40%.
SDC bringt 340 km² Explorationslizenzen über sechs Projekte in Saudi-Arabien sowie ausstehende Lizenzen, die weitere ~700 km² abdecken. Erste Proben haben beeindruckende Ergebnisse gezeigt, darunter bis zu 17 g/t Au, 7% Cu, 19% Zn und 240 g/t Ag. Sun Peak trägt sein 1.450 km² Shire-Projekt in Äthiopien bei, bestehend aus sechs Explorationslizenzen.
Das kombinierte Unternehmen wird Sun Peaks technisches Know-how und SD Cs First-Mover-Vorteil im neu geöffneten Bergbausektor Saudi-Arabiens nutzen, der ein ungenutztes Mineralvermögen von geschätzt 2,5 Billionen Dollar aufweist. Die fusionierte Einheit wird ihren Hauptsitz in Vancouver haben und einen siebenköpfigen Vorstand besitzen.
Sun Peak Metals (OTCQB:SUNPF) وSaudi Discovery Company (SDC) أعلنتا عن اندماج تجاري استراتيجي لإنشاء شركة استكشاف رائدة تركز على الدرع العربي النوبي. من خلال هذا الدمج، ستستحوذ Sun Peak على جميع أسهم SDC، فيملك مساهمو Sun Peak الحاليون 60% من الكيان المشترك ويملك مساهمو SDC 40%.
تجلب SDC 340 كلم² من رخص الاستكشاف عبر ستة مشاريع في المملكة العربية السعودية، بالإضافة إلى رخص معلقة تغطي ما يقرب من ~700 كلم². أظهرت عمليات المسح الأولية نتائج مثيرة، بما في ذلك حتى 17 ج/ت ذهب، 7% نحاس، 19% زنك، و240 ج/ت فضة. كما تساهم Sun Peak بمشروع Shire في إثيوبيا بمساحة 1,450 كلم² ويتكوّن من ست رخص استكشاف.
ستستفيد الشركة المدمجة من خبرة Sun Peak الفنية وميزة الريادة لـ SDC في قطاع التعدين الجديد المفتوح في السعودية، والذي يقدّر بوجود ثروة معدنية غير مستغلة تبلغ 2.5 تريليون دولار. ستحتفظ الكيان الموحد بالمقر الرئيسي في فانكوفر وتضم مجلساً من سبعة أعضاء.
Sun Peak Metals (OTCQB:SUNPF) 与 Saudi Discovery Company (SDC) 宣布了一项战略性业务整合，旨在打造一家聚焦阿拉伯-努比亚地盾的领先勘探公司。通过本次并购，Sun Peak 将收购 SDC 的全部股份，合并实体中 Sun Peak 的现有股东将持有 60%，SDC 股东将持有 40%。
SDC 在沙特阿拉伯六个项目提供 340 平方公里 的勘探许可，另有待批许可覆盖约 ~700 平方公里。初步取样显示出令人印象深刻的结果，包括最高 17 g/t 金，7% 铜，19% 锌，240 g/t 银。Sun Peak 还贡献了埃塞俄比亚的 1,450 平方公里 Shire 项目，共六个勘探许可。
合并后的公司将利用 Sun Peak 的技术专长以及 SDC 在新开放的沙特阿拉伯矿业部门的先行者优势，该部门未开发的矿产财富估计约为 2.5 万亿美元。合并实体的总部将设在温哥华，董事会由七名成员组成。
- First foreign-owned junior explorer with 100% owned exploration licenses in Saudi Arabia
- Combined portfolio of 1,790 km² of high-potential ground across multiple jurisdictions
- Early sampling shows exceptional high-grade mineralization results
- Access to Saudi Arabia's estimated $2.5 trillion untapped mineral wealth
- Improved capital market access and operational synergies across jurisdictions
- No long-term debt assumption in the transaction
- Transaction requires shareholder and regulatory approvals
- Exploration activities in Ethiopia's Shire Project have been suspended
- Operating in multiple jurisdictions may increase regulatory complexity
VANCOUVER, BC / ACCESS Newswire / September 18, 2025 / Sun Peak Metals Corp. ("Sun Peak") (TSXV:PEAK)(OTCQB:SUNPF) and Saudi Discovery Company SPV Limited ("Saudi Discovery Company" or "SDC") today announced that they have entered into a non-binding Letter of Intent dated September 17, 2025, to combine their respective businesses (the "Transaction"). The Transaction will create a leading exploration and development company focused on the highly prospective Arabian-Nubian Shield.
SDC is a privately held mineral exploration company with a portfolio of six existing exploration licenses covering 340 km2 over four projects and other pending licenses covering an additional ~700 km2 in the Kingdom of Saudi Arabia. The licenses are located within highly prospective Volcanogenic Massive Sulfide ("VMS") trends of the Arabian-Nubian Shield and future exploration will focus on both gold-copper VMS and orogenic gold targets.
Sun Peak is a Canadian exploration company listed on the TSX Venture Exchange (the "TSXV") focused on gold and copper within Ethiopia's Arabian-Nubian Shield, anchored by its 1,450 km2 Shire Project consisting of six exploration licenses. The Sun Peak Team has over two decades of experience of exploration and development in the region.
This strategic combination of SDC and Sun Peak will leverage technical and capital markets expertise, Arabian-Nubian Shield experience, and complementary asset bases of both companies to unlock significant value across one of the world's most underexplored and promising mineral belts. Sun Peak will immediately be able to begin aggressive exploration work on the projects in Saudi Arabia.
Greg Davis, President & CEO of Sun Peak, commented: "We are very pleased to announce this strategic agreement with Saudi Discovery Company, which positions Sun Peak to move quickly into on-the-ground exploration and development. The project area hosts highly prospective gold and VMS targets in one of the most geologically promising and underexplored regions globally. With our proven expertise within the Arabian-Nubian Shield, we are well equipped to execute efficiently and create long-term value. This marks a significant step in our strategy to scale the business, strengthen our asset base, and deliver sustained growth for our shareholders."
Jim Paterson, Director of Saudi Discovery Company, added: "This combination represents a transformative opportunity to deploy exceptional talent and resources across the Arabian-Nubian Shield. The combined company will benefit from a strong board, increased scale, greater access to capital, a track record of significant discovery successes, and second to none regional connections and experience. We are honoured to work together with the Sun Peak team to take this company forward to the benefit of all shareholders."
SDC - Key Highlights:
First-mover advantage in Saudi Arabia
First foreign owned junior explorer awarded
100% owned exploration licenses in Saudi Arabia.Operating in a newly opened, underexplored region with exceptional geological potential in the Arabian-Nubian Shield.
Well-established network within Saudi Arabia's mining and finance industry.
Strategic, high-impact exploration portfolio
340 km2 of high-potential ground secured in 6 licenses granted, with additional applications accepted covering approximately 700 km2 in VMS trends within Saudi Arabia.
Focus on VMS and gold mineralization (copper, zinc, gold, silver).
Early sampling results show high-grade mineralization with highlight results up to 17g/t Au,
7% Cu,19% Zn, and 240g/t Ag.Further details of the exploration licenses will be forthcoming.
Geological and economic opportunity
As stated by Saudi Arabia's Ministry of Industry & Mineral Resources, there is potential for USD
$2.5 trillion in untapped mineral wealth and significant exploration opportunities1650,000 km2 of Arabian-Nubian Shield in Saudi Arabia that remains largely underexplored with modern exploration techniques.
Supportive jurisdiction
Strong government and Ministry support with incentives for mining and junior explorers.
Ability to begin aggressive exploration work immediately, with stable regulatory framework, permitting processes, and infrastructure, all aligned with Saudi Arabia's Vision 2030 economic diversification plan.
Strategic location and market access
Located in a G20 country with high GDP growth and global trade relevance.
Access by world leading infrastructure.
Key Highlights and Synergies of the Transaction
Geographic synergy across the Arabian-Nubian Shield
Unlocks exploration, cost, technical and regulatory advantages across multiple jurisdictions by combining complementary regional expertise and assets.
Clear vision for growth
Focused on accelerating the discovery and development of significant precious and base metal deposits through advanced geological knowledge, skills and ESG-aligned strategies.
Strong leadership and governance
Headquartered in Vancouver, the combined company will benefit from experienced leadership teams with a proven track record of success from both organizations.
Strategic advantages of scale
Improved access to capital markets and investor networks.
Expanded exploration pipeline and resource potential in underexplored regions.
Enhanced operations strength with nearly 25 years of exploration expertise in VMS-rich terranes.
Commitment to sustainability and community
Unified approach to responsible exploration, environmental stewardship, and meaningful community engagement, all in accordance with Sun Peak's Human Rights Policy.
Transaction Overview
Pursuant to the Transaction, Sun Peak will acquire all of the issued and outstanding shares of SDC (a private company), in exchange for common shares of Sun Peak. The Transaction is expected to be structured as a share exchange, with the final structure and exchange ratio to be set forth in the Definitive Agreement (as defined below). The parties anticipate that current Sun Peak shareholders will own approximately
Conditions to Completion
The completion of the Transaction is subject to the negotiation of a definitive agreement (the "Definitive Agreement") which will include representations, warranties, covenants, indemnities, termination rights, and other provisions customary for a transaction of this nature. The Definitive Agreement will include several terms and completion conditions, including approval of both companies' shareholders (if required), TSXV acceptance, other applicable regulatory approvals, and the satisfaction of certain closing conditions customary for a transaction of this nature.
The Transaction is expected to be treated as a "Reviewable Transaction", but not a "Fundamental Acquisition", as such terms are defined in the TSXV Policy 5.3. The Transaction is expected to require the approval of Sun Peak shareholders at a special meeting by a simple majority of the votes cast by the Sun Peak shareholders, excluding the votes cast by certain persons.
The Transaction involves arm's length corporate parties.
No finder's fees will be payable in connection with the Transactions and Sun Peak will not be assuming any long term debt upon completion of the Transaction.
Board of Directors
Upon closing of the Transaction and in accordance with corporate law, the board of directors of the resulting issuer will be comprised of seven (7) members, including four (4) current directors of Sun Peak, and three (3) directors to be nominated by SDC, one of whom will be Jim Paterson.
As a director of Saudi Discovery Company, Mr. Paterson has led SDC's entrance into the Kingdom of Saudi Arabia, building a strong in-country network with key stakeholders and business leaders associated with the mining industry, which led to SDC's early success. Mr. Paterson is a co-founder and principal of Discovery Group, with over 27 years of corporate development experience in the mining industry, including capital raises, acquisitions, joint-ventures, spin-outs, RTOs, and IPOs. He was a driving force behind
The Shire Project
The Shire Project will remain the material property of the combined company following the Transaction.
The Company anticipates resuming exploration activities on the Shire Project in Tigray, Ethiopia, including drilling to test the high priority copper-gold VMS and gold targets developed over the past several years.
Qualified Person
The Sun Peak scientific and technical information contained in this news release was approved by Charles Greig, MSc, P.Geo. Mr Greig is a "Qualified Person" under National Instrument 43-101 and independent of Sun Peak.
Quality assurance and quality control protocols for rock samples disclosed herein follow industry standard practices. The rock samples were delivered directly to ALS Global Lab in Jeddah, KSA for analysis.
Note 1: From Saudi Arabia's Ministry of Industry & Mineral Resources' presentation dated September 2024. Please also see: https://www.reuters.com/world/middle-east/saudi-arabia-ups-mineral-resource-estimates-25-trillion-minister-2024-01-09/
ABOUT SUN PEAK METALS CORP.
Sun Peak is advancing the district-scale Shire VMS Project in the Tigray Region of northern Ethiopia. The project covers six exploration licenses totaling approximately 1,450 square kilometers within the highly prospective Arabian-Nubian Shield, the same geological environment as the Bisha Mine and the Asmara Projects in Eritrea. Two licenses (Meli and Terer) held in joint-venture with Ezana Mining, a private Ethiopian Company, while the remaining four are
ON BEHALF OF THE BOARD OF DIRECTORS OF SUN PEAK METALS CORP.
Greg Davis,
President, CEO & Director
FOR FURTHER INFORMATION, PLEASE CONTACT:
Greg Davis
(T): +1 (604) 999 1099
(E): info@sunpeakmetals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Certain information and statements in this news release may be considered forward-looking information or forward-looking statements for purposes of applicable securities laws (collectively, "forward-looking statements"), which reflect the expectations of management regarding its disclosure and amendments thereto. Forward-looking statements consist of information or statements that are not purely historical, including any information or statements regarding beliefs, plans, expectations or intentions regarding the future. Such information or statements in this news release include, but are not limited to, statements with respect to the anticipated benefits of the Transaction; the strategic rationale for the Transaction; the holdings of Sun Peak and SDC shareholders upon closing of the Transaction; the entry into the Definitive Agreement; the receipt of all required approvals for closing of the Transaction, including approval of the shareholders of both companies; the composition of the board of directors following closing of the Transaction; the ability of the parties to satisfy the conditions to closing; potential for exploration potential in Saudia Arabia; the untapped mineral wealth of Australia; SDC being successful in acquiring additional licenses; the goal of making a significant discovery and the development of a large-scale project in Ethiopia and identifying other potential properties and opportunities both in Ethiopia, Saudi Arabia and globally. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Sun Peak will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions, which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including without limitation: These assumptions and risks include, but are not limited to, assumptions and risks associated with the state of the political stability of Ethiopia, equity financing markets and results of future exploration activities by Sun Peak. These forward-looking statements are made as of the date of this news release and, except as required by applicable securities laws, Sun Peak assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements. Additional information about these and other assumptions, risks and uncertainties are set out in the "Risks and Uncertainties" section in the Prospectus filed with Canadian security regulators.
SOURCE: Sun Peak Metals Corp.
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FAQ
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