#Canada #Vancouver #Defense Metals #Wicheeda Project #HCF International

Defense Metals Settles Debt with HCF International Advisers Through Equity

On September 8, 2025, Defense Metals Corp. (TSXV: DEFN, OTCQB: DFMTF, FSE: 35D) announced that it has successfully reached a shares-for-debt settlement agreement with HCF International Advisers Limited. This arrangement is aimed at settling outstanding debt incurred from financial advisory services previously provided to the company.

Under the terms of the agreement, Defense Metals will extinguish a total of $158,200 in payables owed to HCF by issuing 988,750 common shares priced at $0.16 each—referred to as the Settlement Shares. In addition, HCF will receive 494,375 common share purchase warrants. Each warrant will allow the purchase of one additional common share at a price of $0.21 for a duration of 36 months from the issuance date. It is important to note that both the Settlement Shares and the warrants will be subject to a six-month holding period as stipulated in the agreement.

Mark Tory, President and CEO of Defense Metals, expressed satisfaction with HCF's decision to accept equity for debt, emphasizing the experienced industry's positive outlook on the Wicheeda Project as it progresses to the Feasibility Stage. He praised HCF as valuable advisers in the company’s ongoing journey, indicating a strong desire to collaborate in the future when opportunities arise.

The transaction will also require final approval from the TSX Venture Exchange, ensuring that all regulatory criteria are met.

About Defense Metals Corp and Wicheeda Project

Defense Metals Corp is laser-focused on the development of its wholly-owned Wicheeda Rare Earth Element (REE) mineral deposit, located in British Columbia, on lands traditionally held by the McLeod Lake Indian Band. The Wicheeda Project is positioned about 80 kilometers northeast of Prince George, easily accessible via paved and well-maintained gravel roads. Additionally, it is strategically located near essential infrastructure including hydro power lines and natural gas pipelines.

The project benefits from the proximity to the Canadian National Railway and major highways that route directly to port facilities at Prince Rupert—the closest significant North American port to Asia. Recently, Defense Metals completed a Preliminary Feasibility Study (PFS) that showcased robust economic potential for Wicheeda, with further details available in the company’s news releases from February 18 and April 7, 2025. Interested parties can view the complete report on SEDAR+ at www.sedarplus.ca.

In conclusion, the agreement with HCF International not only strengthens Defense Metals' financial foundations but also highlights the growing support and belief in the Wicheeda Project's future. As the company gears up for the next phases of development, it remains committed to transparency and stakeholder engagement, ensuring that all relevant updates are shared, and the path forward is well-charted. For those seeking additional information, visit Defense Metals Corp.'s official website or contact Mark Tory directly at +1 604-445-8179.

Disclaimer

This release contains forward-looking information that may involve risks and uncertainties. These factors can influence actual outcomes and performance, which may differ substantially from what is expressed or forecasted. Readers are advised to review the cautionary statements regarding forward-looking information provided by the company in further detail.