Update: Blue Moon Metals Shares Rise After Agreeing to Acquire Apex Mine From Teck Resources

MT Newswires Live

03/03

(Updates with recent stock movement in headline and first paragraph.)

Blue Moon Metals (BMM) shares were up more than 18% in recent trading on Monday after the company said late Friday it had struck a deal to acquire 100% of the Apex Mine from Teck Resources (TECK).

The mine consists of 26 patented and nine unpatented claims for a total of 250 hectares, Blue Moon said, adding that it will issue around 7.0 million shares to Teck, representing 8% of its shares.

By combining Blue Moon Mine in California, with processing at Springer Complex in Nevada and smelting of zinc concentrate at Teck's Trail Operations in Canada, the firms are building an integrated North American value chain, it said.

The deal is expected to close in March, the company said.

Price: 6.06, Change: +0.94, Percent Change: +18.49

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