BULLETIN V2026-1925
LUNR ROYALTIES CORP. ("LUNR")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement, Graduation, Delist
BULLETIN DATE: June 4, 2026
TSX Venture Tier 2 Company
FDN Transaction
The TSX Venture Exchange has accepted for filing documentation relating to the purchase and sale agreement (silver) dated April 2, 2026 (the "Agreement"), between LunR Royalties Corp. (the "Company") and Aurelian Resources Inc., a wholly-owned subsidiary of Lundin Gold Inc. (the "Vendor" or "Lundin Gold"), whereby the Company acquired a life-of-mine silver stream (the "Stream") on the Fruta del Norte mine in Ecuador (the "FDN Transaction").
Pursuant to the Agreement, the Company acquired the Stream in exchange for the issuance of 50,505,051 common shares of the Company (the "Consideration Shares") to Lundin Gold, such Consideration Shares having a value of approximately USD $670 million (CAD $918 million). The number of Consideration Shares issued by the Company as consideration for the FDN Transaction was determined with reference to the 20-day volume weighted average price of the Company's common shares on the TSX Venture Exchange as of February 20, 2026, being the last trading day on the TSX Venture Exchange prior to the announcement of the FDN Transaction, of CAD $18.18.
Upon closing of the FDN Transaction, the Vendor declared a special dividend-in-kind to distribute all of the Consideration Shares to eligible Lundin Gold shareholders (the "Dividend"). The Consideration Shares will not be distributed to Lundin Gold shareholders in the United States or in any other jurisdiction where such distribution would be restricted or prohibited by applicable law or where the distribution would require the filing of a prospectus, registration statement or similar document by either Lundin Gold or the Company (the "Ineligible Shareholders"). Instead, the Consideration Shares that would otherwise be distributed to the Ineligible Shareholders will be sold in accordance with applicable procedures, and such shareholders will receive a cash payment equal to the net proceeds of such sale, less applicable taxes. The Dividend will be payable in Consideration Shares on June 11, 2026, to Lundin Gold shareholders of record at the close of business on June 4, 2026. The cash payment in lieu of Consideration Shares to the Ineligible Shareholders will be payable as soon as reasonably practicable following the sale of such Ineligible Shareholders' Consideration Shares by intermediaries and brokers, as applicable. Following completion of the Dividend, the Vendor will not hold any common shares of the Company and will not be a Control Person.
Graduation
The TSX Venture Exchange has been advised that the Company's common shares will be listed and commence trading on the Toronto Stock Exchange at the opening on Monday, June 8, 2026, under the symbol "LUNR".
Delist
As a result of this graduation, there will be no further trading under the symbol "LUNR" on TSX Venture Exchange after close of market on Friday, June 5, 2026 and the Company's common shares will be delisted from TSX Venture Exchange at the commencement of trading on the Toronto Stock Exchange.
For further details, please refer to the Company's news release(s) dated February 22, 2026, April 2, 2026, April 22, 2026, May 22, 2026, May 28, 2026 and June 3, 2026.
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