Totec Resources and Usha Resources Announce Qualifying Transaction

On January 9, 2026, Totec Resources Ltd. and Usha Resources Ltd. unveiled a supplemental disclosure regarding their pending qualifying transaction. The transaction involves Totec purchasing Usha's interest in 1540359 B.C. Ltd. and indirectly acquiring 489 mineral claims from the White Willow Property in the Thunder Bay Mining Division. The deal, valued at $50,000 and 5.5 million Totec shares at $0.15 each, will complete Totec's qualifying transaction as per TSX Venture Exchange rules.

The transaction is classified as involving "Non-Arm's Length Parties," but is not a "related party transaction" nor subject to minority security holder protections. Additionally, the size of Subco's concurrent financing has increased to 30 million units, aiming for gross proceeds up to $4.5 million. The units comprise one Subco common share and a warrant.

Trading of Totec shares is halted pending policy compliance. There is no guarantee of transaction completion or share resumption.