Junior Gold Miner Soars After $65M Takeover Bid

2026-02-12 10:29:21 ET

With gold prices hovering near the $5,000 USD per ounce level, maintaining a strong long-term uptrend despite pulling back from recent highs, activity across the mining sector remains elevated. Robust fundamentals continue to fuel heightened M&A interest, particularly among junior miners. Today, another notable acquisition was announced in the junior mining space, sending shares of the target company sharply higher during the trading session.

Gold Candle Ltd. announced this morning that they have entered into a definitive agreement to acquire Fokus Mining Corporation (TSX-Venture: FKM) (OTCQB: FKMCF) in an all-cash transaction valued at approximately $65 million, offering shareholders $0.26 per share, a 36.8% premium to Fokus’ 10-day VWAP as of February 11, 2026. The deal has received unanimous approval from Fokus’ Board of Directors and Special Committee, who recommend that shareholders vote in favor of the arrangement. Certain insiders and key shareholders have agreed to roll over their shares into Gold Candle equity at the same implied value.

The acquisition is expected to significantly strengthen Gold Candle’s footprint in Quebec’s Abitibi region by adding roughly 1.4 million ounces of inferred gold resources and expanding its land holdings to more than 20,000 hectares, including Fokus’ sizable property package along the Larder Lake Cadillac Break. The transaction is positioned as a strategic move to enhance Gold Candle’s asset base while delivering immediate cash value to Fokus shareholders.

Commenting on today’s acquisition announcement, Philippe MacKay, President and Chief Executive Officer of Fokus, stated “This transaction represents an exceptional outcome for shareholders of Fokus. We are proud of our accomplishments, land acquisitions and the work completed to advance our business over the last several years. We are particularly excited to see those efforts translate into immediate and tangible value for our shareholders.”

Meanwhile, Rick Howes, Chief Executive Officer of Gold Candle, stated “We are incredibly excited to enter into this transaction which will substantially increase our already significant and highly prospective land holdings along strike to the east on the Larder Lake Cadillac Break and into the Province of Québec.”

“In acquiring the Fokus portfolio, we add near-term optionality to our prospective development at Kerr-Addison. This strategic land acquisition will immediately be integrated into our greenfield exploration efforts as we further commit to our aggressive drill programs in one of the best gold belts in the world. We very much look forward to building on Fokus’ strong exploration success and stakeholder engagement efforts.”

Shares of FKM are currently up 28.21% at $0.25, while U.S. listed shares (FKMCF) rally 27.41% at $0.185 in mid-morning trading.

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