Termination of Share Purchase Agreement by Waskahigan Oil & Gas Corp

Waskahigan Oil & Gas Corp (CSE:WOGC) announced the termination of its share purchase agreement (SPA) with Terra Metals Inc. and associated parties. The SPA, initially amended multiple times, required specific conditions to be met, including the submission of due diligence information by November 7, 2025, and subsequent financial payments. Failure to meet these conditions or apply for a CSE listing led to the SPA's termination on November 7, 2025.

The TMI Parties did not deliver necessary due diligence information or make required payments by the stipulated deadlines. Despite an option to extend deadlines, the TMI Parties neither elected to extend nor fulfilled financial commitments, leading to the contract's termination. The TMI Parties are contesting the termination, with a mechanism in place for arbitration, though no dates for this process have been scheduled.