Myriad Uranium (M CSE) has announced an updated and binding LOI with Rush Rare Metals (RSH CSE) with respect to the proposed merger of the two companies. Previously, Myriad was to issue one Myriad share for every two RSH shares; this has been updated to one Myriad share for every 1.85 RSH shares. All Rush’s convertible securities (options and warrants, the company is debt-free) would be converted to be exercisable for Myriad shares with an appropriate adjustment made for the exchange ratio.
