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Investing.com -- Captivision Inc (NASDAQ:CAPT) stock rose 4.6% Tuesday after the LED provider announced plans to acquire Montana Tunnels Mining, a subsidiary of Montana Goldfields, in a transformative deal that will reposition the company as a diversified gold mining business.
The acquisition will be completed through an all-stock transaction that values Montana Tunnels at $750 million compared to Captivision’s $50 million valuation. Upon completion, Captivision will be renamed Montana Gold Inc. and will trade on Nasdaq under the ticker symbol "MGI."
Montana Goldfields owns three mines in Montana with established reserves of gold, silver, zinc, and copper. The operation boasts a 22-year production history with existing infrastructure including milling facilities. The agreement also includes a right of first refusal to acquire additional Montana Goldfields mining assets.
Gary Garrabrant, Chairman and CEO of Captivision, will continue as CEO of the combined company and serve as Co-Chairman alongside an appointee from Montana Goldfields. The company will maintain its U.S. headquarters while evaluating strategic alternatives for its legacy architectural media glass and LED businesses.
The transaction is expected to close by the first quarter of 2026, subject to negotiation of definitive agreements, completion of audited financial statements, and regulatory approval.
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