Kesselrun Resources Announces Shareholder and Court Approval for Plan of Arrangement with Gold X2 Mining

Gold X2 Mining Inc. and Kesselrun Resources Ltd. have successfully secured all necessary approvals for their previously announced plan of arrangement, marking a significant consolidation in the Canadian gold sector. The transaction received overwhelming shareholder support at Kesselrun's special meeting on November 21, 2025, followed by final court approval from the Supreme Court of British Columbia on November 26, 2025.

Under the approved arrangement terms, Gold X2 will acquire all outstanding Kesselrun shares in exchange for approximately 0.2152 Gold X2 common shares plus $0.0213 in cash per Kesselrun share. The deal structure provides Kesselrun shareholders with both immediate cash consideration and ongoing exposure to the combined entity's gold assets through their Gold X2 shareholding. Stock option holders will maintain their proportional rights in the combined company.

The transaction represents a strategic consolidation that should create operational synergies and enhanced scale for Gold X2's gold exploration and development activities. With regulatory and shareholder hurdles now cleared, the companies can proceed to closing, which should strengthen Gold X2's asset base and market position in the competitive gold exploration sector.

The successful completion of this acquisition process demonstrates strong stakeholder confidence in the strategic rationale for combining these two gold-focused companies. The overwhelming shareholder support and swift court approval suggest the market views this as a value-creating transaction that positions the combined entity for enhanced growth prospects in the gold sector.