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Investing.com -- The U.S. Securities and Exchange Commission has declared effective the registration statement for Tactical Resources Corp’s (TSXV:RARE) proposed business combination with Plum Acquisition III Corp (OTC:PLMJF), Investing.com has learned.
The milestone advances the mineral exploration company’s plans to become a Nasdaq-listed U.S. rare earth development company. Tactical Resources shareholders will vote on the plan of arrangement at a meeting scheduled for December 16, 2025, while Plum stockholders will consider the proposed business combination at a special meeting in New York on December 22, 2025.
The effectiveness of the Registration Statement is seen as an important event as the proposed merger wth Plum Acquisition Corp. III moves forward, setting the stage for the company to build a U.S.-focused rare earths platform anchored by its Peak Project in Texas.
The Peak Project in West Texas is described by Tactical Resources as one of the only hard rock, direct-to-leach rare earth opportunities in the United States. The company’s development strategy includes advancing permitting for a modular processing facility, continuing metallurgical development, and evaluating opportunities to expand its portfolio.
The company benefits from an agreement with a permitted site with over 20 years of operational history. According to Tactical Resources, the site’s unique mineral composition potentially allows it to bypass conventional processing steps, potentially reducing capital expenditure and production time.
Upon closing of the proposed business combination, the combined company is expected to operate under the name Tactical Resources Corp. and list its common shares on Nasdaq. The transaction remains subject to shareholder approvals, court approval, stock exchange approvals and other customary closing conditions.