Mont Royal Resources (ASX: MRZ) and Commerce Resources (TSXV: CCE) have agreed to a merger, with Mont Royal set to acquire 100% of Commerce’s outstanding shares. The move aims to create a dual-listed entity on both the Australian and Canadian stock exchanges, broadening investor reach and enhancing capital-raising capabilities. The merged company will focus on critical minerals development and exploration in Québec, with a primary emphasis on rare earth elements (REEs), fluorspar, niobium, and lithium.
Key assets of the combined entity include the Ashram project, identified as North America’s largest undeveloped monazite-mineralized carbonatite-hosted REE deposit, and Mont Royal’s Northern Lights project, which offers potential for lithium, copper, and gold across 536 square kilometers. Mont Royal’s executive director, Peter Ruse, emphasized the deal’s potential to unlock substantial value by combining the expertise of both teams and leveraging the resources at Ashram and the Mallard and Miranna niobium prospects. Both companies’ boards have unanimously supported the transaction, with directors and investors controlling significant portions of shares committed to voting in favor. The merger is contingent upon Mont Royal raising between $8 million and $10 million through a share issue to fund resource growth and advance the preliminary economic assessment.
