TMRC Round Top Project Joint Venture Operating Partner, USA Rare Earth, a Domestic Rare Earth Mining & Magnet Co., Announces Its Plan to Become a Publicly Traded Company Via a Business Combination With Inflection Point Acquisition Corp. II
Texas Mineral Resources Corp. (OTCQB: TMRC) announced that its Round Top Project joint venture operating partner, USA Rare Earth (USARE), plans to become a publicly traded company through a business combination with Inflection Point Acquisition Corp. II. The proposed transaction values USARE at a pro-forma enterprise value of $870 million and is expected to be completed in early 2025.
TMRC currently owns approximately 19.3% of the Round Top Heavy-Mineral and Critical Minerals Project. The company is reviewing the proposed business combination details contained in the Form 8-K filed by IPXX with the SEC. TMRC's primary focus is developing and commercializing the Round Top project, located in Hudspeth County, Texas, which contains heavy-rare earth, technology metals, and industrial minerals.
Texas Mineral Resources Corp. (OTCQB: TMRC) ha annunciato che il partner operativo del progetto Round Top in joint venture, USA Rare Earth (USARE), prevede di diventare una società quotata in borsa attraverso una combinazione aziendale con Inflection Point Acquisition Corp. II. La transazione proposta valorizza USARE a un valore aziendale pro-forma di $870 milioni ed è attesa per essere completata nei primi mesi del 2025.
TMRC attualmente possiede circa 19.3% del progetto Round Top dedicato ai minerali pesanti e ai minerali critici. L'azienda sta esaminando i dettagli della proposta di combinazione aziendale contenuti nel modulo 8-K depositato da IPXX presso la SEC. Il focus principale di TMRC è sviluppare e commercializzare il progetto Round Top, situato nella contea di Hudspeth, Texas, che contiene terre rare pesanti, metalli tecnologici e minerali industriali.
Texas Mineral Resources Corp. (OTCQB: TMRC) anunció que su socio operativo del proyecto Round Top, USA Rare Earth (USARE), planea convertirse en una empresa cotizada en bolsa a través de una combinación de negocios con Inflection Point Acquisition Corp. II. La transacción propuesta valora a USARE en un valor empresarial pro-forma de $870 millones y se espera que se complete a principios de 2025.
TMRC actualmente posee aproximadamente 19.3% del proyecto Round Top de minerales pesados y minerales críticos. La compañía está revisando los detalles de la propuesta de combinación empresarial contenidos en el Formulario 8-K presentado por IPXX ante la SEC. El enfoque principal de TMRC es desarrollar y comercializar el proyecto Round Top, ubicado en el condado de Hudspeth, Texas, que contiene tierras raras pesadas, metales tecnológicos y minerales industriales.
텍사스 미네랄 리소스 주식회사(OTCQB: TMRC)는 라운드 탑 프로젝트의 공동 벤처 운영 파트너인 미국 희유광물(USARE)이 Inflection Point Acquisition Corp. II와의 사업 결합을 통해 상장 기업이 될 계획이라고 발표했습니다. 제안된 거래는 USARE의 사전 가치는 8억 7천만 달러로 평가되며, 2025년 초에 완료될 것으로 예상됩니다.
TMRC는 현재 라운드 탑 중금속 및 핵심 광물 프로젝트의 약 19.3%를 소유하고 있습니다. 이 회사는 SEC에 제출된 IPXX의 양식 8-K에 포함된 제안된 사업 결합의 세부 사항을 검토하고 있습니다. TMRC의 주요 초점은 텍사스 허드스페스 카운티에 위치한 라운드 탑 프로젝트를 개발하고 상용화하는 것입니다. 이 프로젝트는 희귀 중금속, 기술 금속 및 산업 광물을 포함하고 있습니다.
Texas Mineral Resources Corp. (OTCQB: TMRC) a annoncé que son partenaire opérationnel du projet Round Top, USA Rare Earth (USARE), prévoit de devenir une entreprise cotée en bourse par le biais d'une combinaison d'affaires avec Inflection Point Acquisition Corp. II. La transaction proposée valorise USARE à une valeur d'entreprise pro-forma de 870 millions de dollars et devrait être finalisée début 2025.
TMRC possède actuellement environ 19.3% du projet Round Top dédié aux minéraux lourds et aux minéraux critiques. L'entreprise examine les détails de la proposition de combinaison commerciale contenus dans le formulaire 8-K déposé par IPXX auprès de la SEC. L'objectif principal de TMRC est de développer et de commercialiser le projet Round Top, situé dans le comté de Hudspeth, au Texas, qui contient des terres rares lourdes, des métaux technologiques et des minéraux industriels.
Texas Mineral Resources Corp. (OTCQB: TMRC) gab bekannt, dass sein Joint-Venture-Betriebspartner des Round Top-Projekts, USA Rare Earth (USARE), plant, ein börsennotiertes Unternehmen durch eine Unternehmenszusammenschluss mit Inflection Point Acquisition Corp. II zu werden. Die vorgeschlagene Transaktion bewertet USARE mit einem pro-forma Unternehmenswert von 870 Millionen Dollar und soll früher 2025 abgeschlossen werden.
TMRC besitzt derzeit etwa 19.3% des Round Top-Projekts für Schwermetalle und kritische Mineralien. Das Unternehmen prüft die Einzelheiten des vorgeschlagenen Unternehmenszusammenschlusses, die im Formular 8-K von IPXX bei der SEC eingereicht wurden. Der Schwerpunkt von TMRC liegt auf der Entwicklung und Kommerzialisierung des Round Top-Projekts, das sich im Hudspeth County, Texas befindet und Schwermetalle, Technologiemetalle und industrielle Mineralien enthält.
- USARE's public listing could potentially increase the value of TMRC's 19.3% stake in the Round Top project
- The proposed transaction values USARE at a significant $870 million pro-forma enterprise value
- The business combination may provide increased visibility and funding opportunities for the Round Top project
- The impact of USARE's public listing on TMRC's ownership stake and project control is unclear
- The transaction is not expected to complete until early 2025, potentially delaying project development
- TMRC's role and benefits in the new structure post-USARE's public listing are not specified
SIERRA BLANCA, TX, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Texas Mineral Resources Corp. (OTCQB: TMRC)
- As announced in a joint press release, the proposed transaction values USA Rare Earth at a pro-forma enterprise value of
$870 million and is expected to be completed in early 2025 - TMRC currently owns approximately
19.3% of the Round Top Heavy-Mineral and Critical Minerals Project
Texas Mineral Resources Corp. (“TMRC” or “Company”) announces that USA Rare Earth (“USARE”), the operating partner of Round Top Mountain Development, LLC (“Round Top”), has advised TMRC and announced that it plans to become a publicly traded company via a business combination with Inflection Point Acquisition Corp. II.
Additional information about the proposed business combination, including a copy of the business combination agreement, is contained in the Form 8-K filed by IPXX with the US Securities and Exchange Commission (the “SEC”). A link to the Form 8-K may be found here: https://bit.ly/3Z3MqB3. TMRC is currently reviewing the USARE proposed business combination contained in the Form 8-K filed by IPXX.
“We want to congratulate USARE on their proposed business combination that values USARE at a pro-forma enterprise value of
About Texas Mineral Resources Corp.
Our primary focus is to develop and commercialize, along with our joint venture operating partner USARE, the Round Top heavy-rare earth, technology metals, and industrial minerals project located in Hudspeth County, Texas, 85 miles southeast of El Paso, in which TMRC currently owns an approximate
Forward-Looking Statements
This press release contains forward-looking statements including within the meaning of the “safe harbor” provisions of the United States Private Litigation Reform Act of 1995. When used in this press release, the words “proposed,” “potential,” “plans,” “indicate,” “expect,” “intend,” “hopes,” “believe,” “may,” “will,” “if, “anticipate,” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such statements. Such factors include, among others, uncertainty of mineralized material and mineral resource estimates, risks to projected and estimated economics not reflecting actual economic results due to the uncertainty of mining processes, potential non-uniform sections of mineralized material, potential mining hazards and accidents, changes in equipment and labor costs, changes in projected mineral prices and demand, competition in the mining industry, risks related to project development determinations, the inherently hazardous nature of mining-related activities, potential effects on the Company's operations of environmental regulations, risks due to legal proceedings, liquidity risks, potential additional dilution to the Company’s interest in Round Top, and risks related to uncertainty of being able to raise capital on favorable terms or at all, as well as those factors discussed under the heading "Risk Factors" in the Company's latest annual report on Form 10-K as filed in November 2023 and other documents filed with the SEC. Except as required by law, the Company assumes no obligation to publicly update any forward-looking statements.
Company Contact:
Texas Mineral Resources Corp.
Anthony Marchese, Chairman
E-mail: amarchese@tmrcorp.com
Twitter: @TexasMineralRes
FAQ
What is the proposed enterprise value of USA Rare Earth in its business combination with Inflection Point Acquisition Corp. II?
When is the business combination between USA Rare Earth and Inflection Point Acquisition Corp. II expected to be completed?
What percentage of the Round Top project does Texas Mineral Resources Corp. (TMRC) currently own?
Where is the Round Top project that TMRC and USA Rare Earth are developing located?
