Colt Silver to List on the TSX Venture Exchange Under the Symbol "COLT" on October 19, 2026

Colt Silver completes spin-out, TSXV listing set for October 19, 2026.

What the company is saying

Colt Silver Corp. confirms the closing of its spin-out from Palamina Corp., effective September 29, 2026, emphasizing the mechanics and completion of the transaction. The company details the distribution of 23,308,708 Colt Shares to Palamina shareholders and Palamina’s retention of 4,577,766 shares, with a precise share exchange ratio of 0.25 Colt Share per Palamina share. The arrangement agreement involved Palamina, Colt Finco Corp., and Colt Silver, and included warrant holders in the distribution. Colt Silver highlights its new status as a reporting issuer in four Canadian provinces and conditional TSXV listing, with trading to begin October 19, 2026 under the symbol COLT. The announcement stresses the company’s focus on seven mineral projects in Peru, especially the Galena Ag-Cu-Mn Project, and notes a technical report filed on SEDAR+. The tone is factual and procedural, with minimal forward-looking language except for the planned inaugural drilling at Galena in fall 2026. CEO Andrew Thomson is named as the key executive.

What the data suggests

The spin-out transaction is complete, with 50,355,421 Colt Shares now issued and outstanding. Of these, Palamina shareholders hold 23,308,708 shares (46.3%), Palamina itself holds 4,577,766 shares (9.1%), and 22,468,947 shares (44.6%) are held by financing participants. There are 100,000 compensation options outstanding, exercisable at $0.15 per share for two years. Colt Silver is obligated to issue up to 5,448,075 additional shares upon exercise of Palamina Warrants at $0.05 per share. 8,257,466 shares (16.4%) are subject to escrow, with 10% released on listing and 15% every six months thereafter. The technical report for the Galena Ag-Cu-Mn Project is effective June 14, 2026 and available on SEDAR+. The company’s portfolio includes seven projects in Peru, with five in Puno and the largest land position in Santa Lucia. The only forward-looking operational detail is the plan for inaugural drilling at Galena in fall 2026, with no resource or economic data disclosed. All securities issued are unregistered in the US and subject to resale restrictions.

Analysis

The announcement is a factual disclosure of the completion of a spin-out transaction, share allocations, listing status, and technical reporting. Nearly all claims are realised and supported by specific numbers or named agreements, with only one forward-looking statement regarding a planned inaugural drilling program in fall 2026. There is no promotional or exaggerated language; the tone is proportionate to the operational and corporate milestones achieved. No large capital outlay is disclosed, and the only forward-looking benefit (drilling) is scheduled for the near term. The technical report filing and share structure details are concrete, and there are no unsupported claims about future value creation or project outcomes. The gap between narrative and evidence is minimal.

Risk flags

• ●Colt Silver remains pre-revenue and pre-resource, with no disclosed mineral resources, reserves, or economic studies; investor value depends on successful exploration outcomes that are inherently uncertain.
• ●A significant portion of the share structure is held by Palamina shareholders and financing participants, which could lead to future selling pressure, especially as 8,257,466 shares (16.4%) are released from escrow over time.
• ●The company's ability to deliver value is contingent on successful execution of its inaugural drilling program at the Galena Project, which is only planned and not yet underway, introducing timing and operational execution risk.

Bottom line

Colt Silver has finalized its spin-out from Palamina and will begin trading on the TSXV on October 19, 2026, with a clear and detailed share structure and escrow schedule. The company is now a reporting issuer in multiple Canadian provinces, but remains at a pre-resource, pre-revenue stage with no disclosed economic or technical results beyond a filed technical report. The main operational catalyst is the planned inaugural drilling at the Galena Project in Peru, expected to start in fall 2026. Investors face typical early-stage exploration risks, including uncertain exploration outcomes and the potential for share overhang as escrowed shares are released. The announcement is credible and transparent about what has been achieved and what remains to be done. The key takeaway is that Colt Silver is now publicly listed and funded for initial exploration, but value realization will depend entirely on future drilling results.

Announcement summary

(TSXV:COLT) Colt Silver Corp. has closed the previously announced plan of arrangement for the spin-out transaction with Palamina Corp., effective September 29, 2026. Under the Spin-Out Transaction, Palamina distributed 23,308,708 common shares of Colt Silver to its shareholders and retained 4,577,766 Colt Shares. The arrangement was implemented under an agreement among Palamina, Colt Finco Corp., and Colt Silver, whereby Palamina shareholders received 0.25 of one Colt Share for every Palamina common share held and one new Palamina common share for every existing share. Holders of Palamina common share purchase warrants are entitled to 0.25 of one Colt Share for every share purchased upon exercise of such warrants. Colt Silver is now a reporting issuer in British Columbia, Alberta, Saskatchewan, and Ontario, and has received conditional approval to list its shares on the TSXV. Colt Shares will begin trading on the TSXV under the symbol "COLT" on October 19, 2026. Colt Silver has 50,355,421 shares issued and outstanding, including 23,308,708 shares held by Palamina shareholders (46.3%), 4,577,766 shares held by Palamina (9.1%), and 22,468,947 shares held by participants in financings related to the Spin-Out Transaction (44.6%). There are 100,000 compensation options outstanding, exercisable at $0.15 per Colt Share for two years from issuance. Colt Silver is obligated to issue up to 5,448,075 Colt Shares upon exercise of Palamina Warrants and receipt of $0.05 per share. A total of 8,257,466 Colt Shares (16.4%) are subject to escrow under TSXV policies, with 10% released on issuance of the listing bulletin and 15% every six months thereafter. A technical report for the Galena Ag-Cu-Mn Project, prepared by Steven L. Park, M.Sc. C.P.G, effective June 14, 2026, has been filed on SEDAR+. None of the securities issued under the arrangement or financings have been or will be registered under the United States Securities Act of 1933, and may not be offered or sold in the United States without registration or an exemption. Colt Silver is focused on a portfolio of seven silver, copper, and critical mineral projects in Peru, with five projects in Puno and the largest land position in the Santa Lucia district. The company's exploration efforts are primarily focused on the flagship Galena Silver-Copper Project, with an inaugural drilling program planned for fall 2026. Andrew Thomson is the Chief Executive Officer of Colt Silver.

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