Vancouver, British Columbia — February 13, 2026 — Leads & Copy — Myriad Uranium Corp. and Rush Rare Metals Corp. have entered into a definitive agreement for a merger, where Myriad will acquire all of Rush’s common shares.
According to the agreement, Myriad will issue one common share for every 1.85 Rush shares, setting an exchange ratio of one Rush share to 0.5405 Myriad shares. All of Rush’s convertible securities will be replaced with Myriad convertible securities, adjusted to reflect the exchange ratio.
Myriad CEO Thomas Lamb highlighted the value catalyst of unifying 100% ownership of the Copper Mountain Uranium Project. Lamb noted the move will simplify decision-making, improve capital efficiency, remove structural discounts, and make the project more investor-friendly.
Lamb acknowledged Rush CEO Pete Smith’s vision in recognizing Copper Mountain’s potential and his efforts in advancing the project. Smith commended Myriad’s team for elevating Copper Mountain into a premier uranium prospect, citing the supportive regulatory environment in Wyoming and the expanding mineralized zones.
Smith also mentioned various uranium prospects within Copper Mountain, including Arrowhead, Canning, Mint/Allard, Midnight, and Bonanza Trend.
Based on closing prices from January 6, 2026, the exchange ratio represents an 18% premium to Rush shareholders. Using a 20-day Volume Weighted Average Price, the premium is 22%.
Rush will transfer its Boxi Property in Quebec to a new subsidiary, 1577075 B.C. Ltd. (Rush Spinco), with additional funding of up to $100,000. Rush shareholders will receive one Rush Spinco share for every four Rush shares, along with the Myriad shares from the merger.
Myriad’s focus is on achieving complete ownership of the Copper Mountain Uranium Project in Wyoming and unlocking its value, along with the Red Basin Project in New Mexico.
Both companies believe the merger is in the best interest of their shareholders, streamlining operations at Copper Mountain. The merger is subject to Rush shareholder approval, British Columbia Supreme Court approval, CSE approval, and other standard conditions.
Following the merger, Rush will become a Myriad subsidiary and will be delisted from the CSE. Myriad shareholder approval is not required. A special meeting of Rush shareholders is expected in or before May 2026 to approve the arrangement, with details provided in a Management Information Circular.
All Rush directors, officers, and certain shareholders are expected to support the arrangement. Special committees from both Rush and Myriad have engaged financial advisors to provide fairness opinions on the merger.
Securities issued under the arrangement have not been registered under the U.S. Securities Act of 1933 and will be issued under available exemptions. Certain Myriad directors and officers hold Rush securities, considered a related party transaction under Multilateral Instrument 61-101, but is exempt from formal valuation and minority shareholder approval requirements.
Myriad holds a 75% interest in the Copper Mountain Uranium Project in Wyoming, which has a rich history of uranium exploration and development. The company also holds a 100% interest in the Red Basin Uranium Project in New Mexico.
Rush Rare Metals Corp. is focused on the Boxi Property in Québec and holds a 25% interest in the Copper Mountain Project.
Source: Myriad Uranium Corp.
