With a single transaction, Tocvan Ventures Corp. is removing the last structural limitation of its Gran Pilar Project. The company has entered into a definitive agreement with Colibri Resource Corp. to acquire the remaining 49% interest in the original Pilar Property through an all-cash transaction. As a result, Gran Pilar would, for the first time, be fully owned by Tocvan – a step that could significantly simplify the project’s path toward gold production and ensure that future economic value accrues entirely to Tocvan shareholders.
This is not an expansion of the project area. Rather, Tocvan is moving to acquire full ownership of the original Pilar concessions that host the historic Main Zone – the most advanced and economically important part of the overall project.
For Tocvan, this announcement could rank among the most important corporate developments since the company’s founding.
For many investors, the significance of the news goes well beyond a simple change in ownership. The original Pilar concessions include the historic Main Zone, an ~1 km² core area where most of the project’s high-grade drill results have been generated and which is expected to form the foundation of a future resource estimate.
Until now, there has arguably been only one milestone of comparable importance: The receipt of all permits for the pilot mine, which marked Gran Pilar’s transition from a pure exploration project toward potential gold production.
You are currently viewing a placeholder content from YouTube. To access the actual content, click the button below. Please note that doing so will share data with third-party providers.
More InformationWith today’s announced agreement to acquire the remaining 49% interest in the original Pilar concessions, Tocvan is taking the next major strategic step.
Although Tocvan has controlled more than 21 km² of the surrounding project area on a 100% basis since the major land consolidation in 2023, the historic Main Zone – arguably the most valuable and most advanced part of Gran Pilar – remained subject to a 51/49 joint venture with Colibri.
That limitation, which could also complicate discussions with larger producers, is now set to disappear completely. Only now is the final piece being brought into Tocvan’s full ownership.
Tocvan CEO Brodie Sutherland summarized the strategic importance of the transaction as follows:
“This acquisition represents a major milestone for Tocvan and our shareholders. Eliminating any joint ownership on the core Main Zone area simplifies our ownership structure, streamlines decision-making, and allows us to fully optimize development plans as we advance toward pilot production and resource definition. With 100% ownership of the entire project, we are better positioned to capture the full upside of Gran Pilar’s significant exploration potential and near-term production opportunity.”
A STRATEGIC STEP AT THE RIGHT TIME
The timing could hardly be more relevant. Gran Pilar is currently at a decisive stage of development. The company has already received all permits for the pilot mine, including a 10-year permit for a heap leach operation. At the same time, extensive drilling programs are underway, pilot mine construction is visibly advancing and an initial resource estimate is moving closer.
With the full acquisition of the Main Zone, Tocvan would gain complete economic control over the entire project.
In practical terms, this means that any future value generated within the Main Zone would accrue entirely to Tocvan and its shareholders:
- 100% of all future defined resources
- 100% of future production
- 100% of cash flow
- 100% of future extensions of the Main Zone
In other words, any future increase in value within the Main Zone would benefit Tocvan shareholders exclusively.
At the same time, the previous joint-venture structure would be eliminated, making decisions around exploration, mine planning, financing and any potential future sale of the project significantly simpler.
THE HEART OF GRAN PILAR
Tocvan’s willingness to pay a total of 3.6 million CAD for the remaining 49% interest is understandable when considering the quality of the Main Zone.
This ~1 km² area has delivered some of the strongest drill results in the company’s history, including:
- 116.9 m @ 1.2 g/t gold, including 10.2 m @ 12 g/t gold + 23 g/t silver
- 108.9 m @ 0.8 g/t gold, including 9.4 m @ 7.6 g/t gold
- 106.8 m @ 0.6 g/t gold, including 3.1 m @ 19.4 g/t gold
- 97.4 m @ 0.7 g/t gold, including 36.3 m @ 1.6 g/t gold
- 94.6 m @ 1.6 g/t gold, including 9.2 m @ 10.8 g/t gold + 38 g/t silver
- 83.5 m @ 1.3 g/t gold, including 9.7 m @ 10.3 g/t gold
- 64.9 m @ 1.2 g/t gold, including 3 m @ 21.6 g/t gold + 209 g/t silver
- 56.4 m @ 1 g/t gold, including 3.1 m @ 14.7 g/t gold
- 42.7 m @ 1 g/t gold, including 3.1 m @ 10.9 g/t gold
- 41.2 m @ 1 g/t gold, including 6.1 m @ 5.4 g/t gold + 39 g/t silver
These results help explain why the Main Zone is considered the core of the broader Gran Pilar Project.
The payment structure also appears favorable for Tocvan:
- 2 million CAD is payable at closing, expected in the coming weeks, with a further 1.6 million CAD due only 12 months later.
- As a result, Tocvan does not have to pay the full purchase price immediately – a potentially important advantage, as the company could already have made operational progress or generated initial cash flow from the pilot mine by then.
- In addition, Colibri will receive a 1% NSR royalty, which Tocvan retains the right to repurchase at any time for CAD $1 million. Furthermore, Colibri has granted Tocvan a right of first refusal on any future sale of that royalty to a third party.
A CLEARER INVESTMENT PROFILE
For the capital markets, the simplification of the ownership structure could also be highly relevant.
Institutional investors often prefer projects with clearly defined ownership. With the acquisition of the remaining 49%, the distinction between joint-venture ground and fully controlled areas would be eliminated.
Gran Pilar would become a fully consolidated gold-silver project. This would not only simplify future economic studies and resource estimates, but could also increase the project’s strategic appeal for potential partnerships or acquisition interest from larger producers.
THE TIMING COULD HARDLY BE BETTER
The Main Zone is not just another part of the project. It is expected to form the core of the maiden resource estimate and contains the majority of the high-grade drill results published to date. It could also potentially provide mineralized material for the pilot mine facility.
At the very moment Gran Pilar is moving from exploration toward potential gold production, Tocvan is also moving to secure full economic control over the project’s core area. From a strategic perspective, the timing could hardly be better.
The acquisition is taking place precisely at a stage when:
- the pilot mine is being built,
- thousands of metres of drill results are still pending,
- the initial resource estimate is being prepared,
- and Gran Pilar is advancing step by step toward potential pilot production.
If pilot production is successful and the subsequent initial resource estimate is positive, this acquisition could, in hindsight, be viewed as one of the key turning points in the company’s history. For that reason, alongside the pilot mine permit, this announcement could rank among the most significant news-releases Tocvan has issued to date.
FUNDING WITHOUT PRESSURE
It is also notable that Tocvan is pursuing this acquisition from a position of financial strength. Only a few months ago, the company raised more than 10 million CAD through a Stifel-led private placement at an issue price of 1 CAD per share.
As a result, Tocvan appears to have sufficient financial resources to make the acquisition payments while continuing to advance its ongoing drill programs and the construction of the pilot mine. The Stifel financing provides exactly the kind of financial flexibility required for a strategic transaction of this scale.
With this transaction, one sentence that investors have repeatedly had to read in news-releases and corporate presentations would also disappear: “Main Zone: 51% Tocvan / 49% Colibri.” Going forward, the investment story can be summarized in 3 words: 100% Gran Pilar.
For the first time in the project’s history, the entire significant core area of Gran Pilar would be held by a single company.
BOTTOM LINE
With the acquisition of the remaining 49% interest in the original Pilar concessions, Tocvan is closing an important chapter in the development of Gran Pilar.
A project with a shared ownership structure would become a fully controlled gold-silver project that can now be advanced under a single company – Tocvan Ventures. At a time when pilot production, further drill results and an initial resource estimate are moving closer, this step could significantly simplify the investment story.
After years of exploration, Tocvan would not only control the majority of the project area, but also fully own its most valuable core for the first time.
In hindsight, this transaction could prove to be much more than a property acquisition. It marks the moment when Tocvan would no longer merely be the largest owner of Gran Pilar, but would, for the first time, have unrestricted control over the entire project.
Together with the pilot mine permit, the upcoming resource estimate and the transition toward potential gold production, this acquisition could be remembered as one of the key turning points in the company’s history.
Company Details
Tocvan Ventures Corp.
Suite 1150 Iveagh House
707 – 7th Avenue S.W.
Calgary, Alberta, Canada T2P 3H6
Phone: +1 403 668 7855
Email: bsutherland@tocvan.ca (Brodie Sutherland)
www.tocvan.com
ISIN: CA88900N1050
Shares Issued & Outstanding: 78,735,014
Canada Symbol (CSE): TOC
Current Price: 0.60 CAD (07/08/2026)
Market Capitalization: 47 Million CAD
Germany Symbol / WKN (Tradegate): TV3 / A2PE64
Current Price: 0.379 EUR (07/09/2026)
Market Capitalization: 30 Million EUR
Contact
Rockstone News & Research
Stephan Bogner (Dipl. Kfm., FH)
Müligässli 1, 8598 Bottighofen
Switzerland
Phone: +41-71-5896911
Email: info@rockstone-news.com
Disclaimer and Forward-Looking Information: Rockstone and Tocvan Ventures Corp. (“Tocvan”; “the Company”) expressly point out that all forward-looking information contained in this report does not represent a guarantee of future results or performance. Actual results may differ materially from those projected. Readers are referred to Tocvan’s public filings, available on SEDAR+ at www.sedarplus.ca, for a more detailed discussion of risk factors and their potential impact. All statements in this report, other than statements of historical fact, constitute forward-looking statements. This report includes expectations, interpretations, projections and assumptions based on information available at the time of writing, including public disclosures by the Company and statements made by its management. Forward-looking statements include, but are not limited to, statements, expectations and assumptions regarding: The proposed acquisition by Tocvan Ventures Corp. of the remaining 49% interest in the original Pilar concessions from Colibri Resource Corp.; the anticipated completion and timing of the transaction; the satisfaction of customary closing conditions and regulatory approvals; the expected strategic, operational and economic benefits of consolidating 100% ownership of the Gran Pilar Gold-Silver Project; the elimination of the existing joint venture structure and its potential impact on project development, decision-making, financing flexibility and future corporate transactions; the significance of the historic Main Zone as the most advanced part of the project and its expected role in any future maiden mineral resource estimate; the interpretation and significance of historical and recent drill results from the Main Zone; the expected advancement of Gran Pilar toward pilot-scale operations, resource definition and future economic studies; the timing and impact of ongoing drilling, pending assay results, pilot mine construction, infrastructure development and other operational milestones; the potential commencement, performance and scalability of the permitted pilot mine facility, including assumptions regarding recoveries, operating parameters and the possibility of future cash flow; the Company’s ability to fund the acquisition, continue exploration and development activities and execute its operational plans; the anticipated benefits of the Company’s recent financing; the expected impact of gold and silver prices, capital market conditions and investor sentiment on the Company; and the potential strategic attractiveness of Gran Pilar to larger mining companies or strategic partners. Statements regarding future ownership, resource definition, exploration success, pilot mine development, future production, operational performance, economic studies, project value, strategic positioning, investment attractiveness, future cash flow or corporate development are based on management’s current expectations, technical interpretations and publicly available information as of the date of publication. Such statements are inherently uncertain and should not be interpreted as guarantees of future performance, the completion of the proposed acquisition, the definition of a mineral resource, the successful operation of a pilot facility, the completion of a preliminary economic assessment, commercial production or any specific financial, operational or corporate outcome. There are currently no mineral reserves defined for the project and, unless otherwise disclosed by the Company, no completed maiden mineral resource estimate. Forward-looking statements are subject to numerous known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied. These risks include, but are not limited to: The possibility that the proposed acquisition may not close on the anticipated terms or within the expected timeframe, or may not close at all; failure to satisfy closing conditions or obtain required approvals; geological uncertainties; the speculative nature of mineral exploration and development; the possibility that future drilling, sampling or technical studies may not support current geological interpretations; uncertainties related to pilot mine construction, commissioning, operating performance, recoveries, metallurgical characteristics, costs and scalability; operational risks associated with exploration, construction and mining activities; permitting, regulatory, environmental, community and land access risks; reliance on contractors, laboratories and third-party service providers; financing and liquidity risks; fluctuations in commodity prices, exchange rates, operating costs and broader economic conditions; political and regulatory risks in Mexico; and other risks beyond the Company’s control. Any references in this report to the strategic importance of the acquisition, the quality of the Main Zone, future resource potential, pilot production, project value, investment profile, corporate milestones or similar expressions represent the opinion and interpretation of the author based on publicly available information and should not be interpreted as confirmation of economic viability, future production, investment performance or the successful completion of the proposed acquisition. Forward-looking statements are inherently subject to significant risks and uncertainties and there can be no assurance that such statements will prove to be accurate. Actual results, developments and future events may differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on forward-looking statements. Neither Rockstone, the author nor Tocvan Ventures Corp. undertakes any obligation to update or revise forward-looking statements, except as required by applicable law.
Disclosure of Interests and Legal Notice: Nothing in this report should be construed as an invitation to buy or sell securities. Rockstone, its owners, and the author of this report are not registered broker-dealers or financial advisors. Before investing in securities, you should always consult your financial advisor and a registered broker-dealer. Never make an investment decision based solely on online or printed reports, including reports from Rockstone – particularly when it comes to small, thinly traded companies. The author of this report, Stephan Bogner, received compensation from Tocvan Ventures Corp. in the amount of 19,000 CAD for a period of 3 months. In addition, he holds securities of Tocvan and will therefore also benefit from increased trading volume and share price appreciation. This represents a significant conflict of interest that may affect the objectivity of this reporting. The author may buy or sell securities of Tocvan at any time without notice, which may give rise to additional conflicts of interest. This report should be understood as a promotional publication and does not replace individual investment advice. All information is current as of the date of publication and is subject to change without notice. Liability for financial losses resulting from investments made on the basis of this report is excluded. The views of Rockstone and the author regarding the companies presented in this report reflect solely their own assessments and are based on information from public sources deemed reliable. Rockstone and the author have not conducted independent due diligence. Neither Rockstone nor the author guarantees the accuracy, completeness, or usefulness of the content, nor its suitability for any particular purpose. There is likewise no guarantee that the companies mentioned will perform as expected, or that comparisons with other companies will prove valid. Please read the full disclaimer carefully. If you do not agree with it, do not use this website or report. By using the website or this report, you agree to the disclaimer, regardless of whether you have read it in full. The information provided is of a general and educational nature. Data, tables, figures, and images, unless otherwise indicated or linked, originate from Tradingview.com, Stockwatch.com, Tocvan Ventures Corp., and publicly available sources.
