American Marconi Wireless News - Tactical Resources Signs Agreement to Acquire the Sierra Blanca Quarry and Tailings Access for the Peak Rare Earth Project

The Company believes the PSA enhances its ability to advance the Peak Project by securing access to tailings material and preserving a pathway to potential ownership of the broader Sierra Blanca Quarry operation, subject to the terms and conditions of the Purchase and Sale Agreement.

"This agreement is an important step in advancing the Peak Rare Earth Project," said Ranjeet Sundher, Chief Executive Officer of Tactical Resources. "It provides Tactical with secured materials access and a pathway to ownership which paves the way to development of the overall project."

Tactical has secured from Walker an exclusive option, exercisable in Tactical's sole discretion, to acquire all of the membership interests of SBQ, subject to certain conditions. The option remains exercisable until five (5) business days after the date that is thirty-six (36) months following the fifth (5th) business day after Tactical's parent company is first listed on the Nasdaq Stock Market. The purchase price for the membership interests will be US$29,000,000, subject to certain adjustments (the "SBQ Purchase Price"). The SBQ Purchase Price is expected to be comprised of 50% cash and 50% equity in Tactical or its parent company.

Under the PSA, Tactical will also acquire approximately four million tons of tailings generated by the operation of a ballast crushing plant located in Sierra Blanca, Texas (the "2026 Tailings Amount") and certain additional tailings produced thereafter (the "Additional Tailings", and together with the 2026 Tailings Amount, the "Transaction"). Tactical may acquire the 2026 Tailings Amount in whole or in part with the balance to be acquired under a separate asset purchase agreement.

The PSA has an initial term expiring July 31, 2036, with successive one-year extensions available upon written request by the Company, subject to SBQ's right to deny any such extension.

The Transaction agreement was dated March 9, 2026. Closing of the Transaction is subject to the satisfaction of customary conditions, including final approval of the TSX Venture Exchange.

About Tactical

Tactical is a mineral exploration and development company focused on U.S.-made rare earth elements ("REE") used in semiconductors, electric vehicles, advanced robotics, and most importantly, national defense. The Company is also actively involved in the development of innovative metallurgical processing techniques to further unlock REEs development potential. The Company's Peak Project is located in the Sierra Blanca area of Texas.

Ranjeet Sundher, Chief Executive Officer
Tel: +1-778-588-5483

For additional information, please visit www.tacticalresources.com.

The TSX Venture Exchange has neither approved nor disapproved the contents of this press release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain statements in this press release may contain forward-looking information (within the meaning of Canadian securities legislation), including, without limitation, the terms and closing of the Transaction, the expected closing date of the Transaction, the intended use of the tailings and the Sierra Blanca quarry assets, the Company's belief that the PSA enhances its ability to advance the Peak Project, the exercise of the option to acquire the membership interests of SBQ, the anticipated composition of the SBQ Purchase Price, the availability of successive extensions of the PSA term, and any required regulatory approvals. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors, which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Forward-looking statements speak only as of the date on which they are made. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, continued availability of capital and financing, the quality or commercial viability of the tailings material, the satisfaction of conditions to closing of the Transaction, the ability of counterparties to perform their obligations under the PSA, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates, and opinions of the Company's management on the date the statements are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions, or changes in other factors affecting the forward-looking statements. If the Company updates any forward-looking statement(s), no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

SOURCE: Tactical Resources Corp.

View the original press release on ACCESS Newswire

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