Northwire Canada EditionFriday, October 16, 2026
Sign inSubscribe
Northwire
⌕
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

Myriad Uranium and Rush Rare Metals Execute Definitive Merger Agreement Pursuant to Which Myriad Will Acquire Rush

By The Northwire Desk — AI Analysis Feb 13, 2026 · 07:01 RSH · 0.215 Rush Rare Metals Corp.
RSH · Price

Executive Summary

  • Myriad Uranium Corp. and Rush Rare Metals Corp. have entered into a definitive agreement for Myriad to acquire 100% of Rush’s common shares via a statutory plan of arrangement, consolidating full ownership of the Copper Mountain Uranium Project.
  • The transaction uses an exchange ratio of 1 Rush Share = 0.5405 Myriad Shares (or 1 Myriad Share per 1.85 Rush Shares), representing an estimated 18‑22% premium to Rush shareholders based on recent trading prices and VWAP.
  • Additional consideration includes issuance of Rush Spinco shares (1 per 4 Rush Shares) and replacement of all Rush convertible securities with Myriad convertible securities, subject to customary closing conditions.

Key Details

  • Transaction Structure: Statutory plan of arrangement; Myriad issues Myriad Shares to Rush shareholders in exchange for all outstanding Rush Shares.
  • Exchange Ratio: 1 Rush Share → 0.5405 Myriad Shares (equivalently, 1 Myriad Share per 1.85 Rush Shares).
  • Premium: Approximately 18% premium based on CSE closing price of C$0.425 (Myriad) and C$0.195 (Rush) on Jan 6 2026; ~22% premium using a 20‑day VWAP prior to LOI execution.
  • Convertible Securities: All Rush convertible securities will be replaced with Myriad convertible securities, adjusted for the exchange ratio.
  • Additional Spinco Consideration: Post‑closing, Rush shareholders receive one Rush Spinco share for every four Rush Shares held, in addition to Myriad Shares.
  • Property Interests: The merger gives Myriad 100% ownership of Copper Mountain (Wyoming) and continues its 100% interest in the Red Basin Project (New Mexico).
  • Option Agreement Background: Myriad has earned a 75% interest in Copper Mountain by incurring > US$5.5 million in eligible expenditures under an option agreement dated Oct 18 2023 (amended).
  • Closing Conditions: Approval of Rush shareholders, British Columbia Supreme Court, CSE, and standard closing deliverables; no Myriad shareholder approval required.
  • Post‑Merger Status: Rush will become a wholly owned subsidiary of Myriad and be delisted from the CSE.
  • Fairness Opinions: Independent advisors (RwE Growth Partners for Rush; KPMG for Myriad) will provide fairness opinions, which are conditions to closing.
  • Special Meeting: A special meeting of Rush shareholders to approve the arrangement is expected on or before May 2026; related voting/support agreements have been entered into by directors/officers and certain shareholders.
  • Related Party Transaction: Certain Myriad directors/officers hold Rush securities; transaction exempt from MI 61‑101 valuation/minority approval thresholds (< 25% of Myriad market cap).

Notable Quotes

“Unifying 100% ownership of the Copper Mountain Uranium Project is a clear value catalyst for Myriad… improves capital efficiency and removes the structural discount of split ownership.” – Thomas Lamb, CEO, Myriad Uranium Corp.

“Hats off to Myriad … we expect the success story at Copper Mountain to continue.” – Peter Smith, CEO, Rush Rare Metals Corp.

Read the original news release →

More from Rush Rare Metals Corp.

Apr 20, 2026 · 07:01

Rush Rare Metals Merger Valuation Supported by New Technical Report Filing

Technical Study Feb 13, 2026 · 12:15

Myriad Uranium, Rush Rare Metals firm up merger deal

M&A / Property Jan 08, 2026 · 16:12

Rush Rare enters renewed LOI with Myriad Uranium

M&A / Property Jan 08, 2026 · 07:01

Rush Rare Metals Announces Renewed Letter of Intent for Proposed Merger

M&A / Property Dec 08, 2025 · 17:01

Rush Rare Metals Confirms Myriad Uranium's 75% Copper Mountain Earn-In

M&A / Property Oct 31, 2025 · 04:39

Rush Rare confirms letter of intent with Myriad expired

M&A / Property