Business
Tactical Resources Announces Execution Of Amendment To Business Combination Agreement With Plum Acquisition Corp. III
Tactical Resources Announces Execution Of Amendment To Business Combination Agreement With Plum Acquisition Corp. III.
About this update from Plum Acquisition Corp. Iii
[{"type":"text","content":"\r\n\r\n \r\n \r\n Tactical Resources Announces Execution Of Amendment To Business Combination Agreement With Plum Acquisition Corp. III\r\n \r\n \r\n\r\n\r\nTactical Resources Announces Execution Of Amendment To Business Combination Agreement With Plum Acquisition Corp. III\r\n\r\n\r\n\r\n\r\n\r\nVANCOUVER, BC / ACCESS Newswire / July 31, 2025 / Tactical Resources Corp. (TSXV:RARE)(OTC:USREF) (\"Tactical Resources\" or the \"Company\"), a mineral exploration and development company, is pleased to announce that it has entered into a third amendment (the \"Third Amendment\") to its previously announced business combination agreement (as amended, the \"Business Combination Agreement\") with Plum Acquisition Corp. III (OTC:PLMJF) (\"Plum\"), a special purpose acquisition company.\r\n Under the Business Combination Agreement, Tactical Resources and Plum agreed to a business combination (the \"Proposed Business Combination\") that will result in a newly formed public company (\"Pubco\") listed on the Nasdaq Stock Market. The Third Amendment builds upon the terms of the original Business Combination Agreement, dated August 22, 2024, and prior amendments executed on December 10, 2024, and January 28, 2025. Pursuant to the Third Amendment:\r\n \r\n A portion of the Pubco common shares to be issued to Tactical Resources shareholders upon completion of the amalgamation described in the Business Combination Agreement (the \"Company Amalgamation Effective Time\") will be subject to transfer restrictions for a period of six months following the Company Amalgamation Effective Time. The locked-up portion will range between 80% and 85% and permit Pubco to satisfy applicable Nasdaq listing rules, with the final percentage to be determined by the Company's board of directors upon recommendation of its special committee.\r\n Certain key securityholders of the Company have concurrently entered into a lock-up agreement, under which the Pubco common shares they receive at the Company Amalgamation Effective Time will be similarly subject to transfer restrictions for six months following the Company Amalgamation Effective Time.\r\n The Proposed Business Combination is expected to close in the fourth quarter of 2025, subject to the receipt of required shareholder, regulatory and court approvals, and the satisfaction or waiver of other customary closing ...