International Frontier Resources (TSX-V:IFR) is moving closer to relisting as Kinjal Gas after shareholders approved a reverse takeover (RTO) by Kinjal Corporation.
At the 23 October 2026 meeting, 99.91% of votes cast backed the transaction. The TSX Venture Exchange has granted conditional approval for the RTO and for listing the combined company as a tier-one oil and gas issuer, subject to final acceptance.
Shareholders also approved a share consolidation, the name change to Kinjal Gas, the continuance from Alberta to Ontario, the proposed board, and an omnibus equity incentive plan.
EXMAR NV, a Kinjal shareholder, holds about 12.5% of the company through Exmar Netherlands BV and has the right to appoint a director.
Kinjal CEO Warren Levy says the approvals are a step towards listing the business.
“Shareholder approval and conditional Exchange approval are important steps towards bringing Kinjal’s Mexican gas business to the public market,” Levy says.
Completion remains subject to Mexican regulatory and third-party approvals, release of equity financing from escrow, and satisfaction of credit facility conditions.
Applications for Mexican asset acquisitions are with Pemex and local authorities.
The company, Kinjal, and Research Capital extended the escrow release deadline for subscription receipts from 28 October to 15 December 2026.
Kinjal plans acquisitions and farm-in transactions involving Misión, Tecolutla/Tonalli, and the CS.06 and A10.CS blocks.
International Frontier Resources is a Canadian oil and gas company advancing a portfolio of energy assets across Mexico, Canada, and the US.
Write to JC Villarba at Mining.com.au
Images: International Frontier Resources
