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Blue Moon Announces Resumption of Trading, Graduation to Tier 1 on the TSX Venture Exchange and Completion of Share Consolidation Following Transformational Acquisitions
TORONTO, March 13, 2025 (GLOBE NEWSWIRE) -- Blue Moon Metals Inc. (“ Blue Moon ”...
About this update from Blue Moon Metals Inc
[{"type":"text","content":"Blue Moon Announces Resumption of Trading, Graduation to Tier 1 on the TSX Venture Exchange and Completion of Share Consolidation Following Transformational Acquisitions\n\n\n\n TORONTO, March 13, 2025 (GLOBE NEWSWIRE) -- Blue Moon Metals Inc. (“\n \n Blue Moon\n \n ” or the “\n \n Company\n \n ”) (\n \n TSXV: MOON\n \n ) is pleased to announce that its common shares (the “\n \n Blue Moon Shares\n \n ”) will resume trading on the TSX Venture Exchange (“\n \n TSXV\n \n ”) at the market open on Friday, March 14, 2025. Upon resumption of trading, the graduation of the Company from Tier 2 to Tier 1 issuer status on the TSXV, and the consolidation of the Blue Moon Shares, previously announced on March 3, 2025 and March 10, 2025, respectively, will be effected (the “\n \n Consolidation\n \n ”).\n \n\n Trading of the Blue Moon Shares was halted on November 27, 2024 in connection with the announcement of the acquisitions of Nussir ASA and Nye Sulitjelma Gruver AS, which closed on February 26, 2025. The Company also announced on March 10, 2025, that it acquired all the shares in Repparfjord Eiendom AS from Wergeland Eigedom AS, a private Norwegian Company, along with associated ship loading equipment and infrastructure related to aggregate mining, port area and adjacent properties to Blue Moon’s Nussir Project in Norway. In conjunction with the above noted acquisitions, the Company completed approximately $35.4 million in equity financings at $3.00 per share post Consolidation. Blue Moon’s mining contractor, Leonhard Nilsen & Sønner Eiendom AS (“LNS”), participated for $4.2 million of the equity financing and has committed to subscribe for another $2.3 million upon two milestones, the first being the start of the decline construction at the Nussir project and the second 10 months after the start of the decline construction. The pricing of the equity commitment is the higher of (i) $3.00 per common share or (ii) the maximum discount allowed by the TSXV.\n \n\n The Company is also pleased to announce that it has been approved for graduation from Tier 2 to Tier 1 issuer status on the TSXV. The TSXV classifies issuers into different tiers based on standards including historical financial performance, stage of development and financial r...