Mont Royal Resources (ASX:MRZ) Announces Merger with Commerce Resources
Merger Details
Mont Royal Resources (ASX:MRZ) announced a merger with TSXV-listed Commerce Resources Corp. The transaction, targeted for completion by late July 2025, will create an ASX and TSX-V listed Canadian-focused critical metals development company. Mont Royal will acquire 100% of Commerce’s issued and outstanding common shares through a statutory plan of arrangement.
Project Portfolio
The merger will combine Commerce’s Ashram Rare Earth and Fluorspar Deposit and niobium assets with Mont Royal’s Northern Lights lithium, copper, and gold exploration projects. The Ashram Project is the largest monazite-dominant carbonatite-hosted Rare Earth Element deposit in North America, featuring an Indicated Resource of 73.2Mt at 1.89% REO and 6.6% CaF₂. Additionally, the Eldor Property’s niobium assets offer advanced exploration opportunities.
Financial Position
As of 31 March 2025, Mont Royal held $1.26 million in cash. The company maintained strict cost controls with no large recurring general and administrative expenses. Expenditure on exploration activities amounted to $136,000, covering drilling programs and claims renewals.
Executive Comments
Executive Director Peter Ruse stated, “The March quarter marked the culmination of an exciting period of business development activity for Mont Royal, with the Company requesting a voluntary suspension of its shares from the ASX on 17 February pending a re-compliance transaction. This has led to the announcement of a proposed merger with Commerce Resources shortly after the end of the reporting period. This merger represents an outstanding opportunity to create value for our shareholders, creating a dual listed exploration company with a suite of high-quality critical minerals assets in Québec. Commerce Resources’ Ashram Project represents a genuinely world-scale rare earths and fluorspar deposit and its niobium exploration opportunity within close proximity to North America places it in prime position to feed into local manufacturing industries. Following completion of the merger, the combined entity will have a high-quality Quebec-based team with proven experience in exploring, building and operating large resource projects. We are now in the midst of many workstreams required to complete this transaction, which we are looking forward to finalising by late July, with Mont Royal shares expected to re-commence trading on the ASX in early August.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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