Highlander Silver Corp. completed a court-approved plan of arrangement under Division 5 of Part 9 of the Business Corporations Act (British Columbia) to acquire all of the issued and outstanding common shares of Bear Creek Mining Corporation, creating a growth-focused company in the silver sector. The transaction was announced on December 19, 2025, following execution of a definitive arrangement agreement on December 18, 2025, and closed on February 26, 2026. Under the arrangement, Bear Creek shareholders received 0.1175 Highlander Silver shares for each Bear Creek share held. Highlander Silver, which already held 50,000,000 Bear Creek shares (approximately 13.95 percent) immediately prior to closing, acquired an aggregate of 308,302,938 shares to bring its holdings to 100 percent, issuing 36,225,457 Highlander shares as aggregate consideration. Bear Creek became a wholly-owned subsidiary of Highlander Silver. Concurrent with closing, Highlander Silver closed debt settlement agreements with Royal Gold, Inc. (through subsidiary International Royalty Corporation) and Equinox Gold Corp., paying cash consideration of US$6.2 million and US$1.6 million respectively, and repaid an advance and outstanding interest owed to Wheaton Precious Metals International Ltd. The combined company is managed by the Highlander Silver executive team, supported by key Bear Creek personnel. Bear Creek shares were slated for delisting from the TSX Venture Exchange on or about March 2, 2026, with withdrawal from the OTCQX platform and the Bolsa de Valores de Lima. The arrangement received the final order of the Supreme Court of British Columbia on February 23, 2026, and Bear Creek shareholder approval on February 19, 2026.