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Gold Candle to acquire Fokus in C$65m all-cash Abitibi deal

12th February 2026

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

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Privately funded explorer Gold Candle will acquire TSX-V-listed Fokus Mining in an all-cash transaction valued at C$65-million, significantly expanding its land position and gold resources in the Abitibi region of Quebec.

The companies on Thursday announced the transaction, under which Cold Candle will acquire all of the issued and outstanding Fokus shares at C$0.26 a share by way of a court-approved plan of arrangement.

The offer represents a 33.3% premium to Fokus’ February 11 closing price on the TSX-V and a 36.8% premium to the ten-day volume-weighted average price as of the same date.

The acquisition will add 1.4-million ounces of inferred gold mineral resources to Gold Candle’s portfolio, comprising 41.2-million tonnes at 1.07 g/t gold, and increase its landholding in the Abitibi to more than 20 000 ha, including Fokus’ 15 988 ha package along the Larder Lake Cadillac Break.

Edited by Creamer Media Reporter

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12th February 2026

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