Kinross Increases Ownership in Eminent to 13.8% and Files Early Warning Report
MWN-AI** Summary
On March 3, 2026, Eminent Gold Corp. (TSXV: EMNT) announced that Kinross Gold Corporation has expanded its ownership stake in the company to 13.8% following the exercise of 3,787,118 common share purchase warrants. As a result of this transaction, Kinross now holds a total of 11,361,355 common shares, representing approximately 13.8% of Eminent’s issued and outstanding shares on a non-diluted basis. This transaction, which generated gross proceeds of C$2.65 million for Eminent, is seen as a demonstration of Kinross' ongoing commitment and support as a strategic partner.
In conjunction with this warrant exercise, Eminent issued additional Incentive Warrants corresponding to each Warrant exercised. These Incentive Warrants grant holders the right to acquire additional common shares at a price of $1.50 each until May 2, 2027. Prior to this event, Kinross controlled about 9.7% of Eminent's common shares and warrants, which shifted to control over approximately 13.8% post-exercise.
An early warning report, detailing this increase in ownership, will be filed by Kinross in compliance with National Instrument 62-103. The report and more information can be accessed via Eminent's profile on SEDAR+.
Dr. Dan McCoy, CEO of Eminent, expressed gratitude for Kinross' support, noting that the proceeds from the warrant exercise will facilitate drilling activities at their 100%-owned Hot Springs Range Project and advance the Celts project. He emphasized the value of Kinross' engagement with their technical team, which contributes to the validation of their exploration efforts in Nevada.
MWN-AI** Analysis
Kinross Gold Corporation’s recent increase in its ownership stake in Eminent Gold Corp. to 13.8% through the exercise of 3,787,118 common share purchase warrants is a significant development that investors should closely monitor. This move not only underscores Kinross’ confidence in Eminent’s prospects but also highlights the strategic partnership between the two entities.
The $2.65 million raised from the warrant exercise is poised to facilitate crucial advancements in Eminent's exploration projects, particularly the Hot Springs Range and Celts projects. The issuance of additional Incentive Warrants further incentivizes Kinross to maintain its investment, potentially leading to increased liquidity and value creation for Eminent as they navigate the exploration phase.
From a market perspective, the uptick in Kinross's stake could be seen as a validation of Eminent's long-term strategic initiatives, particularly in a volatile gold market where institutional partnerships can provide both financial backing and market credibility. The exercise of warrants that allow Kinross to acquire more shares at attractive prices can also serve as a bullish indicator for prospective investors concerned about future share dilution.
Investors should consider the market implications of Kinross’s increased participation. A heightened ownership stake typically correlates with increased share price stability and can be a precursor to positive market reactions. The strategic insights and technical expertise provided by Kinross can also enhance Eminent's operational capabilities, further justifying a potentially favorable outlook.
In summary, investors are advised to take note of Kinross's ongoing commitment and assess how this development could impact Eminent's operational performance in the coming months. This window of opportunity, fueled by Kinross's support, may present advantageous entry points for investors interested in the gold exploration sector.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
PR Newswire
VANCOUVER, BC, March 3, 2026 /PRNewswire/ - Eminent Gold Corp. (TSXV: EMNT) (OTCQB: EMGDF) (FSE: 7AB) ("Eminent" or the "Company") announces that Kinross Gold Corporation ("Kinross") has exercised 3,787,118 common share purchase warrants of the Company ("Warrants") and now owns 11,361,355 common shares of the Company (the "Common Shares"), representing approximately 13.8% of the issued and outstanding Common Shares (on a non-diluted basis) (the "Warrant Exercise"). This Warrant Exercise represents continued participation and support from the Company's strategic partner Kinross.
Kinross exercised the above-noted Warrants for gross proceeds of C$2,650,983. In connection with the Warrant Exercise, the Company issued an additional warrant (an "Incentive Warrant") for each Warrant exercised. Each Incentive Warrant entitles the holder to acquire an additional common share at a price of $1.50 per share until May 2, 2027, consistent with the terms previously announced by the Company.
Early Warning Disclosure of Kinross Gold Corporation
This press release is being issued in accordance with the requirements of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, in connection with the Early Warning Report (as defined herein) which will be filed by Kinross in connection with its Warrant Exercise and the issuance of the Incentive Warrants.
Prior to the Warrant Exercise and the issuance of the Incentive Warrants, Kinross exercised control and direction over, directly or indirectly, 7,574,237 Common Shares and 3,787,118 Warrants, representing approximately 9.7% of Eminent's issued and outstanding Common Shares, on a non-diluted basis and 13.8% of the issued and outstanding Common Shares on a partially diluted basis. Immediately following the completion of the Warrant Exercise and issuance of the Incentive Warrants, Kinross exercises control or direction over, directly or indirectly, 11,361,355 Common Shares and 3,787,118 Incentive Warrants, representing approximately 13.8% of Eminent's issued and outstanding Common Shares on a non-diluted basis and 17.6% of Eminent's issued and outstanding Common Shares on a partially diluted basis.
An early warning report filed by Kinross in connection with the Warrant Exercise will be available on Eminent's SEDAR+ profile at www.sedarplus.ca (the "Early Warning Report"). Alternatively, you may contact Luke Crosby, Senior Vice President, General Counsel at 647–788–4478 to obtain a copy of the Early Warning Report. Kinross is organized under the laws of the Province of Ontario and its head office is located at 25 York Street, 17th Floor, Toronto, Ontario M5J 2V5. Eminent's head office is located at 3849 Thurston Street, Burnaby, BC, V5H 1H9.
Kinross exercises control and direction over the aforementioned Common Shares and Incentive Warrants for investment purposes. Kinross may, from time to time, increase or decrease its investment in Eminent through market transactions, private placements, treasury issuances or otherwise, including pursuant to the terms of the investor rights agreement between Kinross and Eminent dated April 2, 2025.
Dr. Dan McCoy, CEO of Eminent, commented:
"I would like to thank Kinross for their support. The proceeds from their warrant exercise will enable us to resume drilling at our 100%–owned Hot Springs Range Project in the near term and to advance our Celts project toward drilling in the coming months.
We are also appreciative of Kinross' continued engagement with our technical team, as their insights have been and continue to be valuable to Eminent. Their participation provides further validation of the new oxide, Carlin–style gold system we are in the early stages of identifying."
ON BEHALF OF THE BOARD OF DIRECTORS
Dan McCoy
CEO & Director
For further information, please contact:
Eminent Gold Corp.
Phone: +1 604-505-7751
Email: michael@eminentgoldcorp.com
Website: www.eminentgoldcorp.com
LinkedIn: eminent-gold-corp
Instagram: eminent.gold.corp
Twitter (X): @eminent_gold
About Eminent Gold
Eminent Gold is a gold exploration company focused on the discovery of high-quality gold deposits in Nevada. The Company's multidisciplinary team has a track record of exploration success and applies modern, science–driven approaches to target new gold systems in the Great Basin. Eminent's portfolio includes the Hot Springs Range, Gilbert South, and Celts projects.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed "forward-looking statements" with respect to the Company within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements made in this news release include the Incentive Program and anticipated use of proceeds therefrom. Although Eminent Gold Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE Eminent Gold Corp.
FAQ**
How does Kinross Gold Corporation's increased ownership in Eminent Gold Corp (EMGDF) to 13.8% affect the strategic direction and future projects of the company?
What are the specific plans for the $2.65 million proceeds from Kinross's warrant exercise in Eminent Gold Corp (EMGDF), particularly regarding the Hot Springs Range Project?
How might the issuance of the Incentive Warrants influence Kinross's potential to further align with Eminent Gold Corp (EMGDF) in future investment efforts and project developments?
What implications does Kinross's ownership increase to 13.8% have on Eminent Gold Corp's (EMGDF) future fundraising efforts and partnerships within the mining sector?
**MWN-AI FAQ is based on asking OpenAI questions about Eminent Gold Corp (OTC: EMGDF).
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