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Silicon Metals to acquire option for 100% interest in high purity silica project in Newfoundland.

Company Fundamentals
20 Apr 2026
Newsfile Corp
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Bullish
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Silicon Metals Corp. has signed a letter of intent to purchase OIG Overseas Investment Group's exclusive option to acquire a 100% interest in seven mineral licenses covering about 1,700 hectares in Newfoundland and Labrador, an area prospective for high purity silica. The deal involves issuing 10 million shares valued at $1.35 million to OIG or its shareholders. The transaction is subject to due diligence, final agreement, and regulatory approvals. This acquisition aligns with Silicon Metals' focus on critical minerals and expands their portfolio of silica projects in Canada.

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