Department of Finance Canada said the federal government would extend the Mineral Exploration Tax Credit for flow-through share investors.
In 2021, the Mineral Exploration Tax Credit supported over 300 companies to raise equity by issuing eligible flow-through shares to more than 12,400 investors.
The Mineral Exploration Tax Credit, which was scheduled to expire on March 31, 2024, provides important support to junior mineral exploration companies working to unlock Canada's tremendous mineral wealth, creating jobs, and growing the economy.
As part of Canada's Critical Minerals Strategy, in 2022, the federal government introduced the 30-per-cent Critical Mineral Exploration Tax Credit, which supports certain critical mineral exploration expenses incurred in Canada and renounced to flow-through share investors.