Good morning. Here’s your Canadian deal brief for November 12.
The lead
Altius signed an agreement to buy the TNR Gold shares it doesn’t already own. Each eligible share would receive 0.0072 Altius common shares and 0.25 TNR SpinCo common shares. The proposed spinout would indirectly hold Alaska’s Shotgun Gold Project. Altius-held shares and valid dissenters are excluded. Fractions round down. Shareholder, court, stock-exchange and other approvals or conditions remain. Altius’s November 11 announcement
Two securities need separate checks: what backs each, and what still has to happen before delivery.
A closing
Gold X2 completed its previously announced purchase of 42 mineral claims near Thunder Bay from Bold Ventures. Consideration included C$500,000 cash, 150,000 Gold X2 shares and a 2% net smelter return royalty on Canadian Critical Minerals other than copper mined from those claims. Cash is only one component. The royalty’s property and mineral boundaries matter too. Gold X2’s closing announcement
An approved plan
Thomson Reuters announced a planned buyback under a new TSX-approved normal course issuer bid. It permits repurchases of up to seven million common shares from November 13, 2026 through November 12, 2027. Shares bought would be cancelled. Purchases remain discretionary. Keep the authorized ceiling separate from the shares actually bought and the prices paid. Thomson Reuters’ buyback announcement
November 11 disclosure — timing unconfirmed
In its November 11 results, Xanadu disclosed a definitive federal loan agreement under the Strategic Response Fund for its planned Toronto Inception facility. It expects reimbursement over time for qualifying research and development spending. The precise release time, signing date and actual receipts are unestablished here. Keep eligible spending and expected reimbursement on separate dates in the cash plan, then record funds when actually received. Xanadu’s November 11 results
For information and education, not advice for a specific transaction or a prediction of value.
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