Mountain Minerals (MIM-T) and Highwood Resources (HWD-T) will merge to form a Calgary-based industrial producer with advanced specialty metals and rare-earth deposits.
Mountain Minerals is a producer of barite, silica, limestone-gypsum products and zeolites.
Highwood’s properties include Thor Lake (an advanced underground beryllium property southeast of Yellowknife, N.W.T.) and the open-pit zirconium-yttrium Ilimaussaq deposit in southern Greenland. Development work will focus on the Thor Lake project, which is already at an advanced stage.
Each Mountain Minerals shareholder will receive one share of Highwood for every 3.5 shares. The transaction has yet to be approved by shareholders.
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