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Rhyolite Resources ( (TSE:RYE) ) has provided an announcement.
Gold Hart Copper Corp. has signed a binding letter agreement to acquire all outstanding shares of Rhyolite Resources Ltd. in an all-share business combination, with Rhyolite shareholders to receive one Gold Hart share for every 2.6 Rhyolite shares. The deal, expected to close in the second quarter of 2026 subject to customary approvals and working capital conditions, would make Rhyolite a wholly owned subsidiary and create a combined issuer with expanded scale in the junior mining sector.
To fund the transaction and future operations, Gold Hart plans a non-brokered private placement of units and subscription receipts priced at $0.26, targeting gross proceeds of between $4 million and $10 million. Each unit will include one common share and half a warrant exercisable at $0.40 for two years, with insiders of both companies eligible to participate, underscoring insider support while locking both parties into an exclusivity framework that prevents competing strategic transactions during the process.
More about Rhyolite Resources
Gold Hart Copper Corp. and Rhyolite Resources Ltd. are Canadian mineral exploration companies listed on the TSX Venture Exchange, focused on copper and gold projects. Their operations center on advancing exploration-stage assets, positioning them within the junior mining and resource development segment of the capital markets.
Average Trading Volume: 124,155
Technical Sentiment Signal: Buy
Current Market Cap: C$16.08M
For a thorough assessment of RYE stock, go to TipRanks’ Stock Analysis page.