XAU Resources to Acquire QS Holdings

XAU Resources Inc. announced on June 10, 2026, that it has signed a definitive business combination agreement to acquire QS Holdings Inc. The acquisition is structured as a three-cornered amalgamation, in which QS Holdings will merge with a newly formed subsidiary of XAU Resources.

The total purchase price for QS Holdings is set at C$70 million. Shareholders of QS Holdings will receive XAU Resources common shares as consideration, based on an exchange ratio tied to a share price of C$0.50 for XAU Resources. The transaction is expected to be completed in the third quarter of 2026.

Completion of the acquisition is subject to customary closing conditions, including regulatory approvals and shareholder approvals from both companies. The parties have set October 31, 2026, as the outside date for the transaction's completion.

XAU Resources's common shares have been halted from trading on the TSX Venture Exchange pending the review of required filings related to the proposed acquisition.