Vancouver, British Columbia — February 26, 2026 — Leads & Copy — Searchlight Innovations Inc. (TSXV: SLX.P) has mutually agreed with Riverboat Energy Corp. to terminate their proposed business combination.
The termination agreement, dated February 25, 2026, cancels the merger agreement dated October 11, 2024, and amended on December 31, 2024, and April 2, 2025. The agreement was between Searchlight, Riverboat, and 1506404 B.C. Ltd., a wholly-owned subsidiary of Searchlight.
The original merger agreement was intended to fulfill the “qualifying transaction” requirement as defined in Policy 2.4 of the TSX Venture Exchange’s Corporate Finance Manual for Capital Pool Companies.
Searchlight is seeking approval from the Exchange to resume trading its common shares, expecting it to occur around Tuesday, March 3, 2026. The company is also evaluating alternative acquisition opportunities to complete its Qualifying Transaction.
Searchlight Innovations Inc. was incorporated on October 8, 2021, under the Business Corporations Act (British Columbia) and is listed on the Exchange as a Capital Pool Company. Currently, Searchlight has no commercial operations and holds only cash assets.
Riverboat was incorporated under the Business Corporations Act (British Columbia) on June 23, 2023, initially as “1423692 B.C. Ltd.” It later changed its name to “Lake Nipigon Holdings Ltd.” on July 18, 2023, then to “Birkdale Resources Corp.” on October 5, 2023, and finally to “Riverboat Energy Corp.” on June 4, 2024.
Riverboat is a mineral exploration company focused on acquiring and exploring its mineral property in the Lake Nipigon Basin, Ontario. This property is subject to a 2.0% net smelter royalty and a 1.0% net smelter royalty. Riverboat also has options to acquire a 100% interest in an exclusive mineral exploration license on Crown lands near Gypsumville, Manitoba.
Source: Searchlight Innovations Inc.
