Blue Moon Metals announced that it has completed the acquisition of the Apex Mine from Teck American Incorporated, a subsidiary of Teck Resources Limited. The transaction was finalized after receiving approval from the TSX Venture Exchange.
As part of the deal, Teck received 7,031,959 common shares of Blue Moon, representing approximately 8.0% of the company’s issued and outstanding common shares on an undiluted basis. The agreement also includes several royalty and offtake provisions tied to the mine’s production.
The Apex Mine consists of 24 patented claims and nine unpatented claims. Under the terms of the transaction, Blue Moon granted Teck a 0.5% net smelter returns royalty on the property and assumed an existing 3.0% net smelter returns royalty obligation on the Apex Mine claims.
Blue Moon and Teck also entered into an investor rights agreement granting Teck equity participation rights, top-up rights, and information rights related to its shareholding. Additionally, the previously disclosed marketing agreement was replaced by an offtake agreement covering the Apex Mine claims. Under the offtake arrangement, Teck will purchase the mine’s products at market value minus a fixed percentage, with the market value to be reassessed annually.
Separately, the companies confirmed that zinc payabilities and treatment charges associated with Teck’s life-of-mine zinc offtake from Blue Moon’s Blue Moon Mine will align with prevailing industry benchmarks.
The technical and scientific information in the announcement was reviewed and approved by Boi Linh Doig, P.Eng., an officer of Blue Moon Metals and a non-independent qualified person as defined by NI 43-101.
Blue Moon Metals is advancing five brownfield polymetallic projects across the United States and Norway. These include the Nussir copper-gold-silver project in Norway, the NSG copper-zinc-gold-silver project in Norway, the Blue Moon zinc-gold-silver-copper project in the United States, the Springer tungsten-molybdenum project in the United States, and the Apex germanium-gallium-copper project in the United States. The company’s portfolio focuses on metals considered critical to the global economy and national security, including zinc, copper, tungsten, germanium, and gallium.
