Proactive investorsLogo Proactive Investors UK Website

Search field
Additional information
Additional Information
Market: TSX-V
Sector: General Mining
Epic: RKY
News: Latest news
Web Site: Rocky Mountain Resources
Other Articles: 23-10-200912-10-200922-01-2009

RSS - Subscribe to the News Today on Proactive UK ▼

Thursday March 11, 11:17Eco Animal Health Group: moves into US and China could be transformational

Aivlosin® now accounts for more than half of global sales for ECO. Sales in China during FY 2009 were more than 60% ahead of the previous year, and expectations for FY 2010 indicate similar progress.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive AU ▼

Thursday March 11, 06:52Lithium and rare earths markets poised for growth

One hybrid car requires 20 kilograms of lithium carbonate. By comparison, cellphone batteries need just a few grams. Some experts believe that as production of hybrid cars increases, so will the demand for lithium and other rare earths.

FULL ARTICLE ►

RSS - Subscribe to the News Today on Proactive CN ▼

Tuesday March 09, 10:55Nidec Corporation adds third factory and laboratory in Dalian City, China

Nidec Corporation (NYSE:NJ), the Japan headquartered manufacturer of small-to-mid-size motors, fan motors, and pivot assemblies, is to expand its presence in China through the construction [...]

FULL ARTICLE ►
Rocky Mountain Resources

Rocky Mountain Resources

Rocky Mountain Resources (TSX: RKY) is a tier-one metals exploration and development company focused on developing environmentally favorable projects within politically stable regions with the potential to host large deposits of industrial metals or minerals. Rocky Mountain is currently developing a world-class vanadium resource in the state of Nevada, U.S.A., and evaluating other opportunities. The company strives to be a premier mineral resource development and production company.
Friday, October 23, 2009

Western Lithium Canada to acquire Vanadium junior Rocky Mountain Resources

by Jamie Ashcroft company news image

This morning, Western Lithium Canada Corporation (TSX-V: WLC) and Rocky Mountain Resources Corp. (TSX-V: RKY) announced that they have entered into a non-binding letter of intent, in which Western Lithium proposes to acquire all of the outstanding shares of Rocky Mountain.


Western Lithium is developing the Kings Valley, Nevada lithium deposit, and has ambitions to be a major U.S.-based supplier to support the rising global demand for lithium carbonate that is expected from the increased use of mobile electronics and hybrid/electric vehicles.


Rocky Mountain's primary asset is the Gibellini development stage Vanadium project in Nevada. The companies believe that a combination of Nevada based strategic metals for applications in electrical storage and other industrial uses will provide operational and corporate synergies.


Vanadium has the potential to become an important element for future battery chemistries together with lithium-ion chemistries.


The consideration to Rocky Mountain shareholders represents a premium of 43% on Rocky Mountain's closing price on October 22, 2009. The total number of shares Western Lithium would issue under the transaction is approximately 6,749,091.


Rocky Mountain's Board of Directors have approved the proposed merger and upon entering into a definitive agreement will enter into specific support agreements agreeing to vote their shares in favour of the merger.


At closing, all Rocky Mountain common shares will be automatically exchanged for Western Lithium shares on the basis of 0.4032 Western Lithium shares for each Rocky Mountain share. All warrants of Rocky Mountain will be exchanged for similar warrants of Western Lithium, based on the same exchange ratio.


Completion of the transaction is conditional upon satisfactory completion of due diligence, the negotiation and execution of a definitive agreement and receipt of Rocky Mountain shareholder approval as well as other customary conditions and regulatory approvals. The special shareholder meeting of Rocky Mountain to vote on the transaction is expected to be held in early January 2010.

AddThis Feed Button
Register here to be notified of future Rocky Mountain Resources articles.

Other Rocky Mountain Resources articles


Other Rocky Mountain Resources news

More news ►

Investors interested in Rocky Mountain Resources recently viewed


No investment advice

The Company is a publisher and is not registered with or authorised by the Financial Services Authority (FSA). You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.