CALGARY, AB / ACCESS Newswire / October 9, 2025 / Waskahigan Oil & Gas Corp (CSE:WOGC) ("WOGC") On May 21, 2025, WOGC announced that it had entered into a share purchase agreement dated May 16, 2025 ("SPA") amongst WOGC, Terra Metals Inc ("TMI-Delaware"), Terra Metals Limited ("TM-Zambia"), Lunda Resources Limited ("Lunda"), Central African Renewable Energy Corporation Limited ("CARE"), Mumena Mushinge ("Mushinge") and Brian Chisala ("Chisala") (collectively TMI-Delaware, TM-Zambia, Lunda, CARE, Mushinge and Chisala referred to as the "TMI Parties"). The SPA was amended on June 16, 2025 ("SPA Amending Agreement #1") and on July 31, 2025 ("SPA Amending Agreement #2"). The TMI Parties were to provide WOGC certain due diligence information and make the CSE listing application by September 15, 2025. The TMI Parties did not provide all of the necessary due diligence information (including but not limited to corporate minute book information, joint venture expenditure disclosure information, audited financial statement disclosure for year ended December 31, 2024, interim unaudited financial statement disclosure for the 6 months ended June 30, 2025, MD&A disclosure for 12 months ended December 31, 2024 and MD&A disclosure for the 6 month period ended June 30, 2025) and the TMI Parties did not make the CSE listing application by September 15, 2025 as required. Pursuant to the terms of the SPA (as amended), by reason of the defaults, the SPA terminated without further notice. WOGC offered to extend the SPA but the offer was rejected by the TMI Parties.
For further information, please contact:
Gregory J. Leia, President and CEO
Waskahigan Oil & Gas Corp.
Suite 203 - 221 - 10th Avenue SE
Calgary Alberta T2G 0V9
T: (403) 870 0091
Email: gleia@wolffleia.ca
The CSE and Information Service Provider have not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
SOURCE: Waskahigan Oil & Gas Corp
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/oil-gas-and-energy/the-share-purchase-agreement-amongst-waskahigan-oil-and-gas-corp-mumena-mushinge-1085292