07:56 AM EDT, 10/20/2025 (MT Newswires) -- 1911 Gold Corporation ( AUMBF ) announced Monday that the TSX Venture Exchange has denied regulatory approval for the C$17.0 million best efforts LIFE offering and private placement announced on September 19, 2025. As a result, it said, the offering will not be closed on or about October 15, 2025, as previously announced, and added it may not close at all. The company said it is pursuing a formal appeal of this decision under the rules of the TSXV, and a further announcement will be made once the appeal has been determined.

AUMB noted that under a 'material information exception' to the definition of 'market price' under the policies of the TSXV, an issuer can be required to re-price an offering where the issuer announces a material fact or material change subsequent to the pricing of an offering. The TSXV has informed AUMB that it believes that this exception applies to the offering as a result of the company's news release dated October 7, 2025, where AUMB announced certain assay results in the ordinary course of its ongoing 2025 exploration program. The company said it does not consider the assay results announcement to have constituted a material change or a material fact, or that the announcement had any material effect on previous or subsequent share price appreciation, and accordingly, the company believes that the material information exception does not apply to the offering and is pursuing the appeal accordingly.

"We have held several discussions with the TSXV regarding regulatory approval for the offering, and we intend to strenuously pursue the appeal," said CEO Shaun Heinrichs. "While we remain encouraged by the assay results, we do not believe the recent share price appreciation is related to it, and that our current performance reflects renewed investor interest in the company's restart strategy and the significant progress achieved to date. It also reflects the general positive market sentiment resulting from elevated precious metal prices and a significant increase in interest in the gold sector, particularly towards companies like 1911 Gold ( AUMBF ) that have advanced, permitted operations with real near-term production prospects."