Tactical Resources Corp., a mineral exploration and development company, has announced additional details regarding its proposed business combination with Plum Acquisition Corp. III, a special purpose acquisition company (SPAC). Announced on August 22, 2024, the deal requires Plum to re-domicile in British Columbia and amalgamate with a new entity (Pubco). Upon closing, Tactical Resources will continue as a wholly owned subsidiary of Pubco. The transaction values Tactical Resources at $500 million and implies a pro forma enterprise value for the combined entity of $589 million. The proposed combination anticipates that Tactical Resources’ current shareholders will hold approximately 82% of Pubco shares, with its management continuing in their roles. The deal is expected to close in the fourth quarter of 2024, subject to customary approvals.
Mining & Metals, Special Purpose Acquisition Companies (SPACs), Finance & Investment,Canada, United States
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