Vancouver, British Columbia — January 8, 2026 — Leads & Copy — Rush Rare Metals Corp. (CSE: RSH) has announced it has entered into a renewed letter of intent with Myriad Uranium Corp. for a proposed merger transaction.
Under the terms of the LOI, Myriad would acquire all of the Rush Shares by issuing 1 Myriad common share for every 1.85 Rush Shares issued and outstanding, resulting in an exchange ratio of 1 Rush Share to 0.5405 Myriad Shares. In addition, all of Rush’s convertible securities would cease to be exercisable for Rush Shares and would instead be exercisable for Myriad Shares, with appropriate adjustments made to reflect the Exchange Ratio under the Arrangement.
Rush will create a subsidiary Rush Spinco to which it will transfer all of its right, title and interest in and to the Boxi Property in Quebec, and as part of the Arrangement, shareholders of Rush as of its effective date and time would receive shares of Rush Spinco.
Rush and Myriad are parties to a property option agreement dated as of October 18, 2023, as amended, pursuant to which Myriad has earned a 75% interest in the Copper Mountain Uranium Project located in Wyoming, USA by incurring over $5.5 million in eligible expenditures on the Property.
Under the LOI, the parties have agreed to use commercially reasonable best efforts to negotiate and enter into a definitive agreement respecting the Arrangement within thirty (30) days of the execution of the LOI. The parties will continue to work diligently toward completion of the transaction and will provide further updates as warranted.
Closing of the transaction remains subject to a number of conditions, including negotiation and execution of a definitive agreement, approval of the Rush shareholders, approval of the British Columbia Supreme Court, and approval of the Canadian Securities Exchange (the “CSE”). Following completion of the Arrangement, Rush would become a wholly owned subsidiary of Myriad and would be delisted from the CSE. It is not anticipated that the transaction will require approval of Myriad shareholders.
Rush CEO Peter Smith commented, “This is a significant step we’ve been working toward, and we’ve already made good headway surrounding the required underlying work, including both companies having already obtained draft fairness opinions.
Rush Rare Metals Corp. is a mineral exploration company focused on its Boxi Property located in the Province of Québec, Canada. Rush also owns the Copper Mountain Project located in Wyoming, USA, which it has optioned to Myriad Uranium Corp. Rush currently has a 100% interest in the Boxi Property, and a 25% interest in the Copper Mountain Project.
Peter Smith is the Chief Executive Officer of Rush. He can be reached at psmith@rushraremetals.com or by telephone at (778) 999-7030.
Source: Rush Rare Metals Corp.
