Cornish Metals Announces Update to Its Plans to Re-Domicile to the UK

VANCOUVER, British Columbia, Oct. 08, 2025 (GLOBE NEWSWIRE) -- Cornish Metals Inc. (AIM/TSXV: CUSN) (“Cornish Metals”, “Cornish Canada” or the “Company”) is pleased to announce that, in connection with its previously announced intention to re-domicile from Canada to the UK, it has today entered into an arrangement agreement (the "Arrangement Agreement") with Cornish Metals plc ("Cornish UK") pursuant to which Cornish Canada will be re-domiciled to the UK (the "Re-Domicile" or the "Transaction"). Completion of the Re-Domicile shall be subject to certain conditions, including, inter alia, shareholder and regulatory approvals. It is expected that the Re-Domicile will be completed in December 2025.

As previously announced, in conjunction with the strategic investment by National Wealth Fund Limited (“NWF”), the Company provided an undertaking to NWF that it shall use all reasonable and commercially prudent endeavours to re-domicile the Company from Canada to the UK by no later than 24 March 2026.

Following execution of the Arrangement Agreement, certain documents will be submitted to the Ontario Superior Court of Justice for an interim hearing on the proposed court-approved plan of arrangement (“Arrangement”) scheduled for 14 October 2025 (the "Interim Hearing").

Subject to the outcome of the Interim Hearing, further information will be circulated to shareholders ahead of the convening of a special meeting to approve the Arrangement which is anticipated to be held in the second half of November 2025.

Don Turvey, CEO and Director of Cornish Metals, stated: “Re-domiciling Cornish Metals from Canada to the UK simplifies the Company’s structure and better aligns with our strategic and operational focus in the UK to restart tin production at our South Crofty mine in Cornwall. We expect to benefit from reduced regulatory, legal and other costs associated with the dual-listing, improved liquidity of the single quotation on AIM and reduced transaction and overall complexity, which is paramount as we advance the project finance process. We value our Canadian shareholders and hope that they will continue to support the Company on our journey towards becoming an important Western World tin producer.”