Blue Moon Metals Closes Norwegian Acquisitions, and Announces the Appointment of Skott Mealer as President and COO and Theodore Veligrakis as VP Exploration

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[{"type":"text","content":"Blue Moon Metals Closes Norwegian Acquisitions, and Announces the Appointment of Skott Mealer as President and COO and Theodore Veligrakis as VP Exploration \n\n\n\n TORONTO, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Blue Moon Metals Inc. (“\n \n Blue Moon\n \n ”) (\n \n TSXV: MOON\n \n ), Nussir ASA (“\n \n Nussir\n \n ”) and Nye Sulitjelma Gruver AS (“\n \n NSG\n \n ”) are pleased to announce the successful completion of their previously announced transactions (the “\n \n Acquisitions\n \n ”). On closing, Blue Moon acquired 93.55% of the issued and outstanding shares of Nussir (with support of 99.7% shareholders being obtained) and 100% of the issued and outstanding shares of NSG (see November 27, 2024 and December 19, 2024 press releases). In connection with the completion of the Acquisitions, the escrow release conditions of the Subscription Receipts (as defined below) have been satisfied, and the Subscription Receipts have been automatically converted into common shares of Blue Moon (the “\n \n Blue Moon Shares\n \n ”).\n \n\n There are 451,015,886 Blue Moon Shares issued and outstanding at the time of this press release after giving effect to the completion of the Acquisitions and the conversion of the Subscription Receipts. Further information on Blue Moon’s 3 brownfield polymetallic projects will follow over the coming months.\n \n\n\n\n Acquisitions\n \n\n\n\n Pursuant to the Acquisitions, Blue Moon issued 297,761,490 Blue Moon Shares (the “\n \n Consideration Shares\n \n ”) to former holders of common shares of Nussir and NSG in exchange for a 93.55% interest in Nussir and a 100% interest in NSG. The Consideration Shares were deposited into escrow pursuant to the TSXV’s escrow policies and are subject to a statutory hold period of four months and one day from the date of issue. Currently the Consideration Shares are subject to the TSXV Tier 2 escrow release schedule, with 10% being released from escrow commencing on the date of the TSXV bulletin, and thereafter in 15% increments on each of the six, twelve, eighteen, twenty-four, thirty and thirty-six months following the date thereof. However, Blue Moon is currently uplisting from a TSXV Tier 2 issuer to a TSXV Tier 1 issuer. Such process, if approved by the TSXV, would result in ...

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