Myriad Uranium (M CSE) has announced that it has signed an LOI with Rush Rare Metals (RSH CSE) for a proposed merger of the two companies. Myriad will acquire 100% of the outstanding shares of Rush with Myriad issuing one share for every two Rush shares issued and outstanding. 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.
