Trojan Gold (CSE:TGII) has appointed director Jason Bagg as CEO following the resignation of Charles Elbourne, as the company works towards a proposed business combination with Tashota Resources and Strike Copper.
Elbourne stepped down as president and CEO on 7 August 2026 but will remain a Trojan director and assist with the leadership transition.
Bagg says the change will provide continuity as the parties advance the proposed transaction.
“I am honoured to assume this role and look forward to working with the board as we continue advancing the proposed transaction and positioning the company for the opportunities ahead,” he says.
“I am pleased that Chuck will remain on the board and support a seamless leadership transition.”
Trojan, Tashota, and Strike Copper entered a non-binding letter of intent on 1 March 2026 outlining a three-cornered amalgamation. Under the proposed structure, Trojan would acquire all issued and outstanding common shares and convertible securities of both companies through a newly incorporated subsidiary.
The parties say they are continuing to work towards the transaction, while Trojan expects to announce the date of a shareholder meeting to consider and approve the deal.
Trojan says its four existing directors — Elbourne, Rodney Barber, Bagg, and Sarah Morrison — would comprise the company’s board following completion.
The transaction would constitute a business combination under Multilateral Instrument 61-101 because Elbourne is a director of all three companies. Each company has established an independent director committee to assess the proposal, while Trojan will seek approval from disinterested shareholders. The transaction is exempt from formal valuation requirements.
Completion remains subject to the parties entering definitive agreements, regulatory approval from the Canadian Securities Exchange, and the required board and shareholder approvals. Trojan cautions there is no assurance the transaction will proceed or that the parties will agree on final terms.
Trojan Gold is an Ontario-based prospect generator with landholdings in Canada’s Hemlo gold camp and Shebandowan greenstone belt.
Write to France Pinzon at Mining.com.au
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