Medcaw Plans to Buy 90% of Canadian Gold Project in GBP4 Million Deal with Ulvestone

06:11 AM EST, 12/19/2025 (MT Newswires) -- Medcaw Investments (MCI.L) signed binding heads of terms with Ulvestone to acquire 90% legal and beneficial interest in the Eagle Lake gold project in Ontario, Canada, for 4.2 million pounds sterling. The agreement is subject to certain conditions, including the cancellation of the British investor's shares on the London stock exchange's main market and its admission to the AIM segment, as well as Ulvestone's wholly owned Wedgetail acquiring 100% of the project, which hosts 95 mining claims across 1,960 hectares of land. To proceed, Medcaw proposed acquiring 90% of Wedgetail. It also suspended trading of its shares on the London bourse's main market due to the lack of available information on Wedgetail, which could otherwise disrupt normal market operations.