Myriad Uranium Corp. and Rush Rare Metals Corp. Announce Receipt of Final Court Approval for Plan of Arrangement
Myriad Uranium received final court approval for its plan of arrangement to acquire all outstanding shares of Rush Rare Metals, marking a critical step toward closing the deal. The transaction is structured as a share exchange, with Rush shareholders receiving one Myriad share for every 1.85 Rush shares held, plus shares in a new spin-out company holding the Boxi Property. Closing is anticipated on or about August 21, 2026, subject to final Canadian Securities Exchange approval, which will make Rush a wholly-owned subsidiary of Myriad. This acquisition allows Myriad to increase its ownership of the Copper Mountain Uranium Project in Wyoming from 75% to 100%.
Key figures
- Spinout ratio
- 1 Rush Spinco share for every 4 Rush Shares
- Exchange ratio
- 1 Myriad Share for every 1.85 Rush Shares
- Union pacific investment
- C$125 million
- Arrowhead historical production
- 500,000 lbs U3O8
- Copper mountain historical drilling
- 2,000 boreholes
AI analysis
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