Tactical Resources Corp. has completed its business combination with Plum Acquisition Corp. III, establishing a new parent entity operating under the name Tactical Resources Corp. Common shares of the new holding company are expected to begin trading on the Nasdaq Capital Market under the ticker symbol TREO on Tuesday, August 18, 2026.

Following a series of amalgamation transactions, Tactical Resources continues as a wholly-owned subsidiary of the new parent entity. Under the terms of the business combination, Tactical shareholders exchanged each existing share for approximately 4.45396581 New PubCo common shares. Of these newly issued shares, 37% are subject to transfer restrictions for six months, while the remaining 63% are freely tradeable upon issuance. In connection with the closing, the company issued 920,147 Tactical shares at a deemed price of $2.30 to settle $2,116,337 in indebtedness owed to certain officers and consultants.

To satisfy Nasdaq listing requirements, the board of directors approved a four-for-one share consolidation of the common shares, scheduled to take effect on Monday, August 17, 2026. The reverse split reduces outstanding common shares from approximately 54.448 million to approximately 13.612 million, adjusting the deemed issuance price from $10.00 to $40.00 per share while leaving individual ownership percentages unchanged. Plum's outstanding share purchase warrants, which were exchanged for New PubCo warrants at the closing, will undergo the same four-for-one adjustment, shifting the strike price from $11.50 to $46.00.

Concurrently, Man Ching (Jenny Shen) has assumed the role of Chief Financial Officer on a full-time basis, succeeding Alnesh Mohan. Shen previously served as Accounting Manager and Controller at Quantum Advisory Partners LLP, where she acted as Controller for Tactical Resources.

Tactical Resources is advancing its flagship Peak Project in Hudspeth County, Texas, as a core rare earth asset aimed at supporting the U.S. critical mineral supply chain.

“This marks a significant milestone for Tactical Resources,” said Ranjeet Sundher, Chief Executive Officer of New PubCo. “Nasdaq listing provides us with enhanced access to capital markets and expanded visibility within the investment community. We look forward to demonstrating the value of our Peak Project and executing on our development roadmap.”

— Ranjeet Sundher, Chief Executive Officer of New PubCo

In connection with the closing, Tactical shares are expected to be delisted from the TSX Venture Exchange and OTC Markets effective August 13, 2026, alongside Plum's Class A ordinary shares, warrants, and units.

Read the full announcement: Tactical Resources Completes Business Combination with Plum Acquisition Corp. III and Prepares for Nasdaq Listing