Nu-Med Plus Closes Acquisition of Six Gold Properties, Issues 500K Preferred Shares

summarizeSummary

Nu-Med Plus closed its acquisition of six Canadian gold properties, issuing 500,000 Series A Preferred Shares convertible into up to 10 million common shares and granting 5% net smelter returns royalties.

check_boxKey Events · M&A and Partnerships · NUMD

• Gold Property Acquisition Closes

  The Mineral Property Purchase Agreement was completed on August 20, 2026, giving Nu-Med Plus a 100% beneficial interest in six gold properties across Nova Scotia, New Brunswick, and Newfoundland and Labrador.

• 500K Preferred Shares Issued

  As consideration, the company issued 500,000 Series A Preferred Shares to MegumaGold. Each share carries 20 votes and converts into 20 common shares, for a maximum of 10,000,000 common shares if fully converted.

• 5% Net Smelter Returns Royalties

  MGC granted six separate 5.0% net smelter returns royalty agreements covering the Elmtree, Newfoundland, Killag, Goldenville, Miller Lake, and Caribou properties.

• Contingent Value Protection

  If MegumaGold receives less than $3.0 million from arm's-length sales of the Series A Property Shares by the third anniversary of closing, Nu-Med Plus must issue additional common shares (capped at 10% of outstanding common stock) or pay cash.

auto_awesomeAnalysis · NUMD · Industrial Applications And Services

The pivot into gold exploration reached completion on August 20, 2026, when Nu-Med Plus closed the Mineral Property Purchase Agreement first announced June 30. As consideration, the company issued 500,000 Series A Preferred Shares to MegumaGold — convertible into up to 10 million common shares — and granted 5% net smelter returns royalties on all six properties. A contingent value protection clause could force additional share issuance if MegumaGold fails to realize $3 million from selling those preferred shares by the third anniversary. For a company with a market cap around $2 million, the potential conversion of 10 million common shares represents a massive overhang, though the 4.999% beneficial ownership blocker limits immediate conversion. This closing finalizes the survival pivot away from the company's prior medical device business, which faced going-concern doubts from its auditor.