Tactical Resources Completes Business Combination with Plum Acquisition Corp. III and Prepares for Nasdaq Listing

VANCOUVER, British Columbia — Tactical Resources Corp. (“Tactical” or the “Company”) (TSXV: RARE) (OTC: USREF), a U.S.-focused rare earth elements development company, today announced that it has completed its previously announced business combination (the “Business Combination”) with Plum Acquisition Corp. III (“Plum”) (OTC: PLMJF), pursuant to the business combination agreement (the “Business Combination Agreement”) dated August 22, 2024, as amended. The Company also announced that New PubCo (as defined below) will effect a four (4)-for-one (1) share consolidation following the Business Combination.

A welcome email is on its way. If you don't see it, please check your junk folder.

Pursuant to the Business Combination Agreement, following a series of amalgamation transactions, Tactical continues as a wholly-owned subsidiary of a new parent entity (“New PubCo”), which has been renamed “Tactical Resources Corp.” Common shares of New PubCo (“New PubCo Common Shares”) are expected to begin trading on the Nasdaq Capital Market under the ticker symbol “TREO”. Trading on Nasdaq is expected to commence on Tuesday, August 18 th .

The completion of the Business Combination positions Tactical to accelerate development of its Peak Project in Hudspeth County, Texas — a rare earth asset in the United States with existing mined material, established infrastructure, and a clear pathway toward processing and scale.

“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.”

“Completing this Business Combination represents a successful outcome for both Tactical shareholders and Plum investors,” said Kanishka Roy, former Chief Executive Officer of Plum. “Tactical is now positioned as a public company with the strategic direction to develop rare earth supply in the United States, addressing a critical national priority.”

Pursuant to the terms of the Business Combination Agreement, each common share of Tactical (“Tactical Share”) was exchanged for approximately 4.45396581 New PubCo Common Shares (the “Exchange Ratio”).

Of the New PubCo Common Shares issued to Tactical shareholders pursuant to the Exchange Ratio, 37% are subject to transfer restrictions for a period of six (6) months following the closing of the Business Combination (the “Closing” and such restrictions, the “Transfer Restrictions”).