Sirios and OVI Merge to Form Osisko-Backed Gold Company in Québec

Sirios Resources ( (TSE:SOI) ) has issued an update.

Sirios Resources Inc. and OVI Mining Corp. have announced a merger to form a new Osisko-backed gold company, focusing on the Eeyou Istchee James Bay region in Québec. This strategic combination will create a district-scale platform centered around the Cheechoo gold deposit, with additional exploration potential at Corvet Est and PLEX. The merger aims to leverage Osisko’s development expertise and Sirios’ exploration success to advance the Cheechoo project into production, positioning the new entity as a major player in the Québec gold sector. The transaction will result in Sirios issuing shares to OVI shareholders, with the deal expected to close in the first quarter of 2026, subject to approvals.

Spark’s Take on TSE:SOI Stock

According to Spark, TipRanks’ AI Analyst, TSE:SOI is a Underperform.

Sirios Resources’ overall score is primarily impacted by its financial difficulties, including zero revenue and persistent losses. Positive developments in drilling campaigns and project expansion provide some optimism, but the lack of current income and negative cash flows remain critical concerns. Technical indicators suggest limited market momentum, and the negative valuation metrics further weigh down the stock’s attractiveness.

To see Spark’s full report on TSE:SOI stock, click here.

More about Sirios Resources

Sirios Resources Inc. is a company focused on gold exploration and development, primarily operating in the Eeyou Istchee James Bay region of Québec. The company is known for its exploration success and is now expanding its operations through a strategic merger with OVI Mining Corp., which will enhance its market position in the gold industry.

Average Trading Volume: 399,070

Technical Sentiment Signal: Buy

Current Market Cap: C$30.89M

Learn more about SOI stock on TipRanks’ Stock Analysis page.