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GOLD 4170.10 +1.5% SILVER 57.16 +2.3% COPPER 6.56 −1.5% OIL 97.97 +3.0% PALLADIUM 1136.00 +3.6% LUN 32.91 +0.6% DLP 0.290 −3.3% VCV 0.065 −13.3% GG 2.89 +1.4% NBLC 0.015 +0.0% SF 0.300 −4.8% ATY 0.215 +2.4% GHL 0.060 −7.7% STND 0.060 −7.7% B 0.550 −3.5% HBM 34.33 −0.5% NTR 98.77 −0.7% SGZ 0.035 +0.0% MKA 0.670 +0.0% LXM 0.175 −18.6% CLCH 1.08 −1.8% GOLD 4170.10 +1.5% SILVER 57.16 +2.3% COPPER 6.56 −1.5% OIL 97.97 +3.0% PALLADIUM 1136.00 +3.6% LUN 32.91 +0.6% DLP 0.290 −3.3% VCV 0.065 −13.3% GG 2.89 +1.4% NBLC 0.015 +0.0% SF 0.300 −4.8% ATY 0.215 +2.4% GHL 0.060 −7.7% STND 0.060 −7.7% B 0.550 −3.5% HBM 34.33 −0.5% NTR 98.77 −0.7% SGZ 0.035 +0.0% MKA 0.670 +0.0% LXM 0.175 −18.6% CLCH 1.08 −1.8%
M&A / Property

Rush Rare confirms letter of intent with Myriad expired

By The Northwire Desk — AI Analysis Oct 31, 2025 · 04:39 RSH · 0.23 Rush Rare Metals Corp
RSH · Price

Executive Summary

  • Rush Rare Metals Corp. confirms that the Letter of Intent (LOI) dated August 6, 2025, regarding a potential merger with Myriad Uranium Corp. has expired.
  • Despite the expiration, Rush Rare Metals continues to engage in discussions with Myriad Uranium to find mutually agreeable terms for a transaction.
  • CEO Peter Smith has been removed from the negotiation process since August 6 to avoid conflicts of interest, with an independent committee now leading the efforts, including the procurement of a fairness opinion.

Key Details

  • Transaction Status: The Letter of Intent for the proposed merger between Rush Rare Metals Corp. and Myriad Uranium Corp. has officially expired.
  • Ongoing Negotiations: Both companies remain engaged in discussions to establish new terms for a potential transaction.
  • Governance Changes: Peter Smith, CEO of Rush Rare Metals, has stepped back from the merger process since August 6 to avoid potential conflicts, as he is a founder of both entities.
  • Independent Oversight: An independent committee is currently managing the negotiations and working on administrative tasks, including obtaining a fairness opinion, which has contributed to delays.
  • Counterparty Progress: Myriad Uranium continues to make progress on its Copper Mountain project in Wyoming, which is subject to an earn-in agreement with Rush Rare Metals.
  • Asset Ownership: Rush Rare Metals holds a 100% interest in the Boxi property (Quebec, Canada) and a 50% interest in the Copper Mountain project (Wyoming, USA), which is optioned to Myriad Uranium.

Notable Quotes

  • "As a founder of both Rush and Myriad, I am very happy to see that both companies will continue merger discussions, but I have also been removed from this process since Aug. 6 to avoid any potential conflicts." — Peter Smith, CEO, Rush Rare Metals Corp.
  • "I understand that our independent committee has been working hard towards an agreement, but there are a number of moving parts to administer, including the procurement of a fairness opinion, and this has caused some delay." — Peter Smith, CEO, Rush Rare Metals Corp.
Read the original news release →

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