Myriad Uranium Corp. has completed its acquisition of Rush Rare Metals Corp. under a statutory plan of arrangement, making Rush a wholly owned subsidiary and consolidating full ownership of the Copper Mountain Uranium Project in Wyoming.

Under the completed arrangement, Myriad issued 24,983,671 common shares to Rush shareholders at an exchange ratio of 0.5405 Myriad shares for every one Rush share held. In addition, all outstanding Rush stock options were replaced with 2,110,120 Myriad options reflecting the same exchange ratio. Following the completion of the transaction, Rush shares have been delisted from the Canadian Securities Exchange.

The transaction received shareholder approval on August 17, 2026, followed by a final approval order from the Supreme Court of British Columbia on August 19, 2026. Registered Rush shareholders must submit letters of transmittal and share certificates to TSX Trust Company to receive their Myriad shares.

As part of the reorganization, Rush spun out its Boxi Property in Quebec into a wholly owned subsidiary, 1577075 B.C. Ltd., known as Rush Spinco. Rush transferred all title and interest in the Boxi Property and provided $100,000 in capitalization funding to Spinco. In exchange, Rush shareholders received 11,555,816 spin-off shares on the basis of one spinco share for every four Rush shares held.

The Boxi Property was originally acquired by Rush on the strength of historical niobium sampling conducted by Orano in 2011, following the suspension of uranium mining in Quebec. Prior to the merger, Myriad served as an earn-in partner on the Copper Mountain Uranium Project, funding more than $5.5 million in exploration expenditures to secure a 75% interest before pursuing full consolidation.

“We are proud to have completed this transaction with Myriad,” commented Rush CEO Peter Smith. “The combination brings together complementary expertise and establishes a clear path forward for Copper Mountain.”

— Peter Smith, Chief Executive Officer

With the transaction now closed, Myriad assumes full operational control of Copper Mountain while Rush shareholders hold direct equity in both the consolidated uranium developer and the newly independent Boxi niobium asset.

Read the full announcement: Rush Announces Completion of Arrangement with Myriad Uranium