USFM Corporation, a Golden-based mineral exploration company, has announced a merger with Nasdaq-listed Twin Vee PowerCats. The deal, approved by the boards of both companies, will see a subsidiary of USFM merge into Twin Vee, allowing existing Twin Vee stockholders to receive equity in the newly combined public company upon completion. The transaction is expected to close in the third quarter of 2026 and will result in Twin Vee’s marine business being separated into a privately held company.
Olga Solovieva, Vice President of Exploration at USFM, highlighted that the merger comes at a crucial time for the Disko-Nuussuaq Project in Greenland, where drilling is currently in progress. She stated, “The combination with Twin Vee comes at a pivotal point for the Disko-Nuussuaq Project. Following years of target generation, geological modelling and planning, drilling is now underway at one of the world’s most prospective underexplored magmatic nickel districts.” The merger aims to provide USFM with broader access to capital markets to support ongoing evaluation of this resource-rich area.
The Disko-Nuussuaq Project is recognized as one of the largest underexplored nickel districts globally. Drilling operations commenced on July 1, 2026, with plans for extensive exploration across multiple targets, backed by a $30 million investment, including $10 million for the current drilling season. Regular updates on the exploration progress are expected as drilling continues.
This merger is significant as it combines USFM’s exploration assets with Twin Vee’s public market presence, aiming to enhance both companies’ growth strategies within the resource sector. The planned separation of Twin Vee’s existing marine business also points to a strategic restructuring for better focus on specialized operations.
The primary source was PR Newswire.
