FG Nexus enters non-binding LOI to sell Quebec property for $10M

FG Nexus (FGNX) signed a non-binding letter of intent to sell its Quebec property for $10M. Following repayment of the existing mortgage, the transaction is expected to generate approximately $8M in net pretax proceeds. The letter of intent does not constitute a binding agreement, and there can be no assurance that a definitive sale agreement will be reached or that the transaction will be completed. The transaction, if completed, is expected to close during the first quarter of 2026, subject to the execution of definitive agreements, completion of due diligence, and satisfaction of customary closing conditions. The Company will provide updates to the market as developments warrant and upon completion of any definitive transaction.