Bellavista Set to Finalise Pickle Crow Acquisition and $35M Placement by April End

Acquisition Milestone Reached for Pickle Crow Gold Project

Bellavista Resources Ltd (ASX:BVR) has announced it has satisfied or waived all conditions precedent for acquiring 100% of Auteco Minerals (Canada) Pty Ltd, including Auteco’s 70% interest in the Pickle Crow Gold Project in Ontario, Canada. The acquisition includes an option to increase Bellavista’s interest to 80%, consolidating its position in this high-grade gold asset.

This development marks a significant step towards completion, which Bellavista expects to occur on 29 April 2026, provided there is no material adverse change relating to Auteco and its subsidiaries. The Pickle Crow project, known for its 2.8 million ounce inferred resource at a high grade of 7.2 g/t gold, has been a key strategic target for Bellavista’s growth in the Canadian gold sector.

Capital Raising to Support Expansion

In tandem with the acquisition, Bellavista is set to settle the second tranche of its $35 million non-underwritten placement on 29 April, with shares issued and quoted on 30 April. This placement, which was upsized from an initial $25 million due to strong institutional interest, is designed to fund the company’s aggressive exploration and development programs not only at Pickle Crow but also at its Australian projects.

The placement proceeds will bolster Bellavista’s cash position, which was projected to reach around $32 million post-settlement, providing ample runway for ongoing drilling campaigns and resource definition. This follows earlier announcements detailing the capital raise and acquisition terms, which included a mix of shares and milestone-linked performance rights as consideration for the Pickle Crow stake.

Bellavista’s Managing Director Glenn Jardine highlighted that satisfying all acquisition conditions is a pivotal moment, enabling the company to focus on unlocking value from the Pickle Crow project. The company’s strategic approach aligns with its broader ambitions in the Uchi and Wabigoon belts, where it holds significant exploration tenure.

Risks and Forward-Looking Considerations

While the acquisition and placement settlement are imminent, Bellavista’s forward-looking statements caution investors about inherent uncertainties. There is no guarantee that mineral resources will convert to economic reserves or that development plans will proceed as envisioned. The completion remains subject to no material adverse changes in Auteco’s business, a standard but critical condition in such transactions.

Bellavista’s recent capital raise and acquisition moves build on its earlier announcements, including the $35M capital raise and the initial securing of the 70% Pickle Crow stake announced in early February. These steps collectively position Bellavista as a more prominent player in the Canadian gold exploration scene, but the market will be watching closely how these assets translate into operational progress in the months ahead.