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Pacific Booker Minerals Confirms Termination of American Eagle Golds Unsolicited Takeover Bid
Pacific Booker Minerals Inc. confirmed that American Eagle Gold Corp. has terminated its unsolicited takeover bid for all of Pacific Booker's issued and outstanding common shares. The termination was announced on Friday, June 8, 2026, and takes effect immediately under the terms of the offer. Pacific Booker, a mining exploration company based in Vancouver, British Columbia, is currently in advanced stages of developing the Morrison copper‑gold‑molybdenum deposit located in the Tier‑1 jurisdiction of British Columbia. The company is listed on the TSX Venture Exchange under the ticker BKM.
The bid, which was made without prior invitation, was announced by American Eagle Gold Corp. on April 14, 2026. American Eagle, which trades on the OTCQB market under the symbol AMEGF, had offered to acquire all of Pacific Booker's shares in an all‑share transaction. The offer was rejected by Pacific Booker's board and shareholders. On April 29, 2026, the board issued a circular recommending that shareholders reject the bid. The board’s recommendation was based on an opinion from INFOR Financial that the offer was financially inadequate and that the company’s full and fair value was not reflected in the bid price.
Pacific Booker’s response to the bid has been to launch a strategic review process. The review is led by an independent Special Committee of the board and is intended to maximize value for shareholders by exploring alternatives to the unsolicited offer. According to a press release issued on June 2, 2026, the company also established a Technical Advisory Board (TAB) to provide independent technical oversight of the Morrison project and related studies. The TAB is expected to assist in the preparation of a future Preliminary Economic Assessment and to help evaluate potential strategic partners.
The June 2 release also noted that Kent Zehr, a member of the TAB, had been described as a Professional Engineer. However, the Association of Professional Engineers and Geoscientists of Alberta (APEGA) had lapsed Zehr’s membership as of December 31, 2025. The company acknowledged that the description was incorrect and that Zehr should not have been identified as a Professional Engineer in the release.
The termination of the takeover bid does not end Pacific Booker's strategic review. The company stated that it will continue the review process and that it expects to complete the review by mid‑June 2026. The review will involve outreach to potential strategic counterparties and the use of a technical data room managed by the company’s financial advisor, RCI Capital Group Inc. The company’s website indicates that it has engaged RCI to manage the broader strategic review and to assist in evaluating alternative transaction options.
The Morrison deposit, located in the British Columbia interior, is a large‑scale copper‑gold‑molybdenum porphyry deposit. The company’s exploration program has produced a high‑grade resource estimate and is in advanced stages of development. The deposit is situated in a Tier‑1 jurisdiction, which provides a stable regulatory environment for mining projects.
The bid termination was announced by American Eagle Gold Corp. on June 5, 2026, in a statement that thanked the Lake Babine Nation for its support of the proposed acquisition. The company also expressed its appreciation for the constructive relationship built in the region and wished Pacific Booker shareholders success moving forward.
In summary, Pacific Booker Minerals Inc. has confirmed that American Eagle Gold Corp. has withdrawn its unsolicited takeover bid. The company will continue its strategic review, led by an independent Special Committee, and will maintain the Technical Advisory Board to support the development of the Morrison project. The company’s next steps include finalizing the review, engaging potential partners, and continuing to advance the Morrison deposit toward production.
The bid, which was made without prior invitation, was announced by American Eagle Gold Corp. on April 14, 2026. American Eagle, which trades on the OTCQB market under the symbol AMEGF, had offered to acquire all of Pacific Booker's shares in an all‑share transaction. The offer was rejected by Pacific Booker's board and shareholders. On April 29, 2026, the board issued a circular recommending that shareholders reject the bid. The board’s recommendation was based on an opinion from INFOR Financial that the offer was financially inadequate and that the company’s full and fair value was not reflected in the bid price.
Pacific Booker’s response to the bid has been to launch a strategic review process. The review is led by an independent Special Committee of the board and is intended to maximize value for shareholders by exploring alternatives to the unsolicited offer. According to a press release issued on June 2, 2026, the company also established a Technical Advisory Board (TAB) to provide independent technical oversight of the Morrison project and related studies. The TAB is expected to assist in the preparation of a future Preliminary Economic Assessment and to help evaluate potential strategic partners.
The June 2 release also noted that Kent Zehr, a member of the TAB, had been described as a Professional Engineer. However, the Association of Professional Engineers and Geoscientists of Alberta (APEGA) had lapsed Zehr’s membership as of December 31, 2025. The company acknowledged that the description was incorrect and that Zehr should not have been identified as a Professional Engineer in the release.
The termination of the takeover bid does not end Pacific Booker's strategic review. The company stated that it will continue the review process and that it expects to complete the review by mid‑June 2026. The review will involve outreach to potential strategic counterparties and the use of a technical data room managed by the company’s financial advisor, RCI Capital Group Inc. The company’s website indicates that it has engaged RCI to manage the broader strategic review and to assist in evaluating alternative transaction options.
The Morrison deposit, located in the British Columbia interior, is a large‑scale copper‑gold‑molybdenum porphyry deposit. The company’s exploration program has produced a high‑grade resource estimate and is in advanced stages of development. The deposit is situated in a Tier‑1 jurisdiction, which provides a stable regulatory environment for mining projects.
The bid termination was announced by American Eagle Gold Corp. on June 5, 2026, in a statement that thanked the Lake Babine Nation for its support of the proposed acquisition. The company also expressed its appreciation for the constructive relationship built in the region and wished Pacific Booker shareholders success moving forward.
In summary, Pacific Booker Minerals Inc. has confirmed that American Eagle Gold Corp. has withdrawn its unsolicited takeover bid. The company will continue its strategic review, led by an independent Special Committee, and will maintain the Technical Advisory Board to support the development of the Morrison project. The company’s next steps include finalizing the review, engaging potential partners, and continuing to advance the Morrison deposit toward production.
