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Britannia Life Sciences Inc. (CSE: BLAB) ("Britannia" or the "Company") is pleased to announce that it has entered into a share exchange agreement (the "Agreement") with McEwen Inc. ("McEwen") and Britannia Mining Solutions Inc. (doing business as Paragon Geochemical Laboratories Inc.) (together, "Paragon").
Pursuant to the terms of the Agreement, McEwen will acquire 648,002 common shares of Paragon from Britannia at a deemed price of $17.50 per Paragon share, payable in common shares of McEwen (the "Transaction"). The total consideration for the Transaction is valued at approximately $11.3 million.
This strategic transaction crystallizes value in Paragon shares for Britannia shareholders, while providing exposure to a highly liquid, diversified mining platform, poised for growth. Britannia founded Paragon in 2022, and with the backing and support of some of the world's premier mining investors, has built a leading provider of advanced analytical services to the mining industry. Paragon is globally recognized for its deployment of PhotonAssay™, a technology that is poised to become the new industry standard for assaying precious and base metals, with Paragon being one of the world's leading service providers.
"This transaction marks another significant milestone in Britannia's strategy to unlock value from our portfolio of innovative science and technology businesses at a time where we continue to evaluate opportunities for our platform, including the creation of an asset backed lending platform," said Peter Shippen, Chief Executive Officer of Britannia Life Sciences Inc. "By realizing value from our holdings in Paragon, we are strengthening Britannia's position to invest in other cash generative businesses to drive returns for our shareholders."
Britannia Provides Update on Debenture Financing
Britannia continues to pursue new lines of business, including in asset backed lending.
Britannia Life Sciences announces that it will be extending the closing of its previously announced debenture offering until November 30, 2025. While initial interest in the debenture financing has been encouraging the Company continues to engage with prospective investors who see value in the offering.
About Britannia Life Sciences:
Britannia Life Sciences Inc. is a diversified services platform operating across North America and Europe. Historically anchored in science-based services - such as laboratory testing and regulatory compliance - the company recently sold its U.K. laboratory business and is repositioning its expertise and infrastructure for broader opportunities. Management is actively exploring how the existing platform can be applied to the growing markets for private debt and non-resource royalties and is considering a rebrand to better reflect this wider strategic focus beyond the life-sciences sector.
About Britannia Mining Solutions:
Britannia Mining Solutions is a leading provider of innovative analytical technologies to the global mining industry. BMS is deploying what will be the largest commercially available fleet of PhotonAssay™ machines globally by the end of 2025, addressing global bottlenecks in mining assays through a proven and disruptive technology. The Company's deployment of industry leading PhotonAssay™ assaying technology and other complementary analytical tools will provide faster, more accurate, and more cost-effective mineral analysis to mining operators. BMS is deploying a total of 12 PhotonAssay™ units, the first three of which have been installed and are currently operating in its labs in Hamilton, Ontario, the Greater Vancouver Area and at the Company's geochemical laboratory in Sparks, Nevada.
About McEwen:
McEwen shares trade on both the NYSE and TSX under the ticker MUX.
McEwen provides its shareholders with exposure to a growing base of gold and silver production in addition to a very large copper development project, all in the Americas. The gold and silver mines are in prolific mineral-rich regions of the world, the Cortez Trend in Nevada, USA, the Timmins district of Ontario, Canada and the Deseado Massif in Santa Cruz province, Argentina. McEwen is also considering reactivating a gold and silver mine in Mexico.
The Company has a 46.4% interest in McEwen Copper, which owns the large, long-life, advanced-stage Los Azules copper development project in San Juan province, Argentina - a region that hosts some of the country's largest copper deposits. According to the last financing for McEwen Copper, the implied value of McEwen's ownership interest is US$456 million.
The Los Azules copper project is designed to be one of the world's first regenerative copper mines and carbon neutral by 2038. Its Feasibility Study results were announced in the press release dated October 7, 2025.
Chairman and Chief Owner Rob McEwen has invested over US$200 million personally and takes a salary of $1 per year, aligning his interests with shareholders. He is a recipient of the Order of Canada, a member of the Canadian Mining Hall of Fame and a winner of the Ernest & Young Entrepreneur of the Year (Energy) award. His objective is to build MUX's profitability, share value and eventually implement a dividend policy, as he did while building Goldcorp Inc.
For further information, please contact:
Peter Shippen, CEO Britannia Life Sciences Inc.
416-930-7711
Email: enquiries@britannia.life
Website: www.britannia.life
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272941
