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Golden Star Capital Ventures Completes Acquisition of Okanagan Insulation Services, Aims for TSXV Resumption
Vancouver, British Columbia — August 1, 2026 — Leads & Copy — Golden Star Capital Ventures Inc. has successfully closed its qualifying transaction, acquiring Okanagan Insulation Services (2007) Ltd. This strategic move, structured as a share purchase via a wholly-owned subsidiary, GS Acquireco I Inc., integrates Okanagan as an indirect wholly-owned subsidiary of Golden Star Capital Ventures. The company anticipates its common shares will resume trading on the TSX Venture Exchange (TSXV) under the symbol "GCV" on August 12, 2026, following final TSXV approval, where it will be classified as a Tier 2 Industrial Issuer.
The transaction involved a cash payment of $3,750,000 to Okanagan's former shareholders, with customary post-closing working capital adjustments. Additionally, 1,000,000 common shares of Golden Star Capital Ventures were issued at a deemed price of $0.30 per share, representing the initial share consideration. Further share issuances, valued at $100,000 and $350,000 respectively, are slated for the first and second anniversaries of closing. These deferred shares will be issued at a price per share equal to the greater of $0.30 or the 20-day volume-weighted average trading price prior to issuance. All initial and deferred share consideration is subject to a five-year lock-up period, with gradual releases occurring annually.
In conjunction with the qualifying transaction, Golden Star Capital Ventures completed a non-brokered private placement, raising $1,781,400 through the sale of 5,938,002 subscription receipts. These receipts automatically converted into common shares upon the closing of the qualifying transaction. The shares issued from this conversion are subject to a four-month-and-one-day hold period from their original issuance date. Following these transactions, Golden Star Capital Ventures has a total of 29,983,002 common shares issued and outstanding.
To further align interests, the Company has granted an aggregate of 907,000 stock options to directors, officers, and consultants. These options are exercisable at $0.30 per common share and will expire on September 1, 2036.
Financing for the acquisition was secured through a $2,000,000 secured acquisition facility with Royal Bank of Canada. This non-revolving term facility, structured with a maximum 60-month amortization period and a fixed interest rate of 5.34% per annum, is repayable in full by June 30, 2031. The funds were utilized to cover the purchase price of the qualifying transaction. Royal Bank of Canada has also committed to providing Okanagan with additional facilities for working capital and leases, contingent on customary conditions and final TSXV approval. Security for these facilities includes general security agreements from GS Acquireco and Okanagan, along with guarantees from Golden Star Capital Ventures, GS Acquireco, and Okanagan.
No finders' fees were paid in connection with the qualifying transaction, the concurrent financing, or the acquisition financing.
The resulting issuer will operate the business of Okanagan, a well-established construction and insulation installation company based in Kelowna, British Columbia. With over 50 years of experience, Okanagan specializes in residential and commercial insulation services, including spray foam, blown-in, and batt insulation. The multi-generational business, currently led by Josh Meyer, serves a diverse clientele across the Okanagan Valley and the BC Interior.
The board and management of the Company following the transaction include David Redekop as President, Chief Financial Officer, and Director; George Wang as Chief Executive Officer, Corporate Secretary, and Director; Richard Stone as Chairman and Director; Steve Vertes as Director; and Iris Duan as Director.
Detailed information regarding the qualifying transaction and related matters is available in the filing statement, accessible via the Company's SEDAR+ profile.