If You Invested in Canadian Gold (STRRF)

Canadian Gold Corp (historically trading in Canada under TSXV: CGC and in the U.S. over-the-counter as STRRF) was a Canadian-based mineral exploration and development company focused on high-grade gold projects. According to multiple company news releases, its principal asset was a 100% interest in the past-producing Tartan Mine, a high-grade gold project located near Flin Flon, Manitoba, Canada. The company also held a 100% interest in greenfield exploration properties in Ontario and Quebec, positioned adjacent to some of Canada's largest gold mines and development projects, including the Canadian Malartic Mine in Quebec, the Hemlo Mine in Ontario and the Hammond Reef Project in Ontario.

Canadian Gold Corp described its main corporate objective as expanding the high-grade gold resource at the Tartan Mine. The mine is characterized in company disclosures as a former producing operation with existing infrastructure and significant exploration potential. A 2017 mineral resource estimate for the historic Tartan Mine, referenced in several news releases and attributed to the "Tartan Lake Project Technical Report, Manitoba, Canada, April 2017" authored by Mining Plus Canada Consulting Ltd., reported indicated resources of 240,000 ounces of gold (1,180,000 tonnes at 6.32 g/t gold) and inferred resources of 37,000 ounces of gold (240,000 tonnes at 4.89 g/t gold.

Beyond the core Tartan Mine property, Canadian Gold Corp pursued additional exploration along the broader Tartan Shear Zone. The company reported optioning adjoining properties such as the Tartan West property and the Flin Flon North property, with the stated goal of consolidating the Tartan Shear Zone and potentially supporting future infrastructure and development decisions at Tartan. Company news releases describe multi-phase drill programs at the Tartan Mine, including work on the Main Zone, the Western Flank of the Main Zone, and the South Zone, as well as near-mine target generation at Tartan West.

In its public communications, Canadian Gold Corp highlighted drilling results at the Tartan Mine that intersected high-grade gold over various intervals in both the Main Zone and the South Zone. The company stated that the objective of these drill programs was to increase the number of ounces per vertical metre and to evaluate scenarios that could support a potential restart of mining operations at Tartan. It also noted that the South Zone, which is parallel to the Main Zone, was initially viewed as a supplemental source of potential ore but had become a focus for resource expansion.

At the regional level, Canadian Gold Corp emphasized the advantages of operating near Flin Flon, Manitoba, citing in its news releases access to a skilled mining workforce, existing mine infrastructure and road and power access at the Tartan Mine site. The company also acknowledged the role of the Manitoba Mineral Development Fund (MMDF) and the Manitoba Mineral Exploration Tax Credit (MMETC) in supporting exploration and development activities in the province. It reported receiving multiple grants from the MMDF that contributed to advancing drilling and exploration at Tartan.

In addition to its Manitoba activities, Canadian Gold Corp described exploration programs at its Hammond Reef South property in Ontario and at Tartan West. At Hammond Reef South, news releases refer to field programs designed to follow up on high-grade surface gold samples and to evaluate a mineralized corridor extending over several kilometres, located near Agnico Eagle's Hammond Reef Deposit. At Tartan West, the company reported mapping, prospecting and sampling aimed at verifying historic high-grade surface showings and historic drill results, with the stated intention of prioritizing areas for trenching, stripping and diamond drilling.

Corporate transformation and acquisition by McEwen Inc.

Canadian Gold Corp underwent a significant corporate change through a business combination with McEwen Inc. According to joint news releases from McEwen Inc. and Canadian Gold Corp, the companies first entered into a binding letter of intent in July 2025 outlining a proposed transaction under which McEwen would acquire all of the issued and outstanding securities of Canadian Gold by way of a plan of arrangement under the Business Corporations Act (British Columbia). A definitive arrangement agreement was subsequently signed in October 2025, setting the exchange ratio at 0.0225 McEwen common shares for each Canadian Gold common share.

At a special meeting held on December 5, 2025, Canadian Gold shareholders approved the arrangement resolution by the required majorities, including approval by disinterested shareholders as required under Multilateral Instrument 61-101. A final order approving the arrangement was issued by the British Columbia Supreme Court on December 10, 2025, as later amended. A joint news release dated January 6, 2026, states that the arrangement became effective at 8:00 a.m. Vancouver time on January 5, 2026, and that Canadian Gold became a wholly owned subsidiary of McEwen Inc.

Under the terms described in that news release, each holder of Canadian Gold common shares became entitled to receive 0.0225 McEwen common shares for each Canadian Gold share held, with specific provisions applying to shares held by Rob McEwen. The same news release notes that the shares of Canadian Gold were expected to be delisted from the TSX Venture Exchange effective as of the close of market on January 7, 2026, and that Canadian Gold would apply to cease to be a reporting issuer under applicable Canadian securities laws and to terminate its public reporting requirements.

As a result of this completed arrangement, Canadian Gold Corp functions as a historical entity for public market purposes, and its former shareholders hold or may hold McEwen Inc. shares according to the exchange ratio described in the arrangement documents. Certificates that formerly represented Canadian Gold shares now represent only the right to receive McEwen shares, subject to the procedures described in the company's management information circular and related materials filed on SEDAR+.

Project focus and exploration themes

Across its news releases, Canadian Gold Corp consistently described its strategy as centered on expanding and advancing the Tartan Mine and related properties. Key themes included:

• High-grade gold at Tartan Mine: The company repeatedly referenced the 2017 mineral resource estimate for the Tartan Mine and highlighted drilling results that intersected high-grade gold over various intervals in the Main and South Zones.
• Past-producing mine with infrastructure: Canadian Gold Corp characterized Tartan as a former producing mine with existing infrastructure, including a ramp and site footprint, which it viewed as supportive of potential restart scenarios.
• Exploration along the Tartan Shear Zone: By optioning the Tartan West and Flin Flon North properties, the company sought to consolidate a longer strike length along the Tartan Shear Zone and to generate new drill targets near existing infrastructure.
• Greenfield projects in Ontario and Quebec: The company held exploration properties in Ontario and Quebec adjacent to established mines and development projects, including near the Canadian Malartic Mine, the Hemlo Mine and the Hammond Reef Project. At Hammond Reef South, it reported high-grade surface samples and ongoing field work.

Status of STRRF and historical context

The over-the-counter symbol STRRF has historically been associated with Canadian Gold Corp for U.S. investors. Following the completion of the plan of arrangement with McEwen Inc., Canadian Gold became a wholly owned subsidiary of McEwen, its Canadian-listed shares were expected to be delisted from the TSX Venture Exchange, and the company indicated it would seek to cease being a reporting issuer. For investors researching STRRF, this means the symbol primarily represents the historical public company that has since been acquired, rather than an ongoing standalone issuer.

Users reviewing this overview should treat Canadian Gold Corp as a former independent mineral exploration and development company whose assets, including the Tartan Mine and related exploration properties, are now held within McEwen Inc. The information summarized here is based on Canadian Gold Corp and McEwen Inc. news releases describing the company's projects, strategy and the completed business combination.