Giga Metals Corp. has completed a transaction that materially changes who controls the Turnagain nickel-cobalt project. Effective September 28, 2026, the Canadian junior miner acquired Mitsubishi Corporation’s interest in the Turnagain Joint Venture, giving Giga Metals 100% ownership of the North American critical-minerals asset.

The transaction is specific and completed: Giga Metals now holds sole ownership of Turnagain. It is not, however, evidence of a completed financing, a production decision, a permitting approval or a guaranteed development partnership. Those outcomes remain separate questions for the company and its shareholders.

What changed at Turnagain

The deal was completed through Giga Metals’ acquisition of Mitsubishi Corporation’s interest in the Turnagain Joint Venture. That joint venture was originally established under an agreement dated August 15, 2022. With Mitsubishi’s interest acquired, the project is no longer jointly owned between the two companies.

Giga Metals trades under three symbols: $GIGA on the TSX Venture Exchange, $GIGGF on the OTCQB and $BRR2 on the Frankfurt Stock Exchange. The company’s announcement is available in the official transaction release.

Why sole ownership matters

For investors, the most direct implication is control. A 100% owner generally has a clearer position from which to set project priorities, evaluate development options and manage future corporate decisions. In Turnagain’s case, those responsibilities now sit with a single Canadian junior miner rather than a joint venture involving Mitsubishi Corporation.

That consolidation could also simplify the company’s strategic narrative. Giga Metals can present Turnagain as a wholly owned asset while assessing the next stages of technical work, permitting and development. It may have greater flexibility to determine how those processes are organized, although the announcement does not provide financing terms, a construction schedule or a production date.

Financing remains a separate test

Full ownership can increase strategic control, but it does not eliminate the capital requirements associated with advancing a large critical-minerals project. The assignment provides no new financing amount, valuation, funding timetable or economic forecast tied to the transaction. Accordingly, investors should distinguish ownership consolidation from evidence of project economics or near-term development.

Any future financing could affect Giga Metals’ capital structure and the pace of work at Turnagain, but those outcomes are not established by the acquisition itself. The same distinction applies to permitting: sole ownership may give the company direct responsibility for pursuing approvals, but it does not indicate that approvals have been granted.

Critical-minerals context

Nickel and cobalt are part of broader efforts to diversify Western supply chains, making control of a North American project potentially relevant to the critical-minerals conversation. Still, the transaction alone does not establish a strategic partnership, production commitment or guaranteed market outcome. Mitsubishi Corporation’s role is clear: it was the joint-venture participant whose interest Giga Metals acquired.

The key data point is therefore straightforward: effective September 28, 2026, Giga Metals owns 100% of Turnagain. The next investor questions concern financing, permitting, project economics and development decisions—none of which are resolved by the ownership change.