Blue Moon Expands in Norway with Key Acquisitions and Leadership Changes

Deal News | Feb 27, 2025 | Globenewswire

Blue Moon Metals Inc. has announced the successful acquisition of significant stakes in Norway-based mining companies Nussir ASA and Nye Sulitjelma Gruver, marking a strategic expansion into the Scandinavian mining sector. Blue Moon acquired 93.55% of Nussir and full ownership of NSG, with consideration provided in the form of newly issued Blue Moon shares. Post-acquisition, these shares will undergo a phased escrow release pending potential uplisting adjustments on the TSX Venture Exchange. The company has also introduced new board members, Dr. Karin Thorburn and Francis Johnstone, alongside new officer hires Skott Mealer as President and COO, and Theodore Veligrakis as VP of Exploration, to bolster leadership. Concurrently, Monial AS and Baker Steel Resources Trust have acquired significant stakes in Blue Moon following the transactions. Looking ahead, Blue Moon plans to leverage its enhanced capabilities and broadened asset base towards advancing its polymetallic projects across Norway and the US.

Sectors

Mining and Metals
Investment and Private Equity

Geography

Norway – Blue Moon Metals acquired Norwegian companies Nussir ASA and Nye Sulitjelma Gruver AS, marking Norway as a significant geographical focus of the article.
Canada – Blue Moon Metals Inc. is headquartered in Canada, and the shares are listed on the TSX Venture Exchange, emphasizing its Canadian ties.
United States – Blue Moon also has interests in mining projects in the United States, which are mentioned as part of their operational strategy.

Industry

Mining and Metals – The article discusses the acquisition of mining companies Nussir ASA and Nye Sulitjelma Gruver by Blue Moon Metals, indicating involvement in the extraction and production of minerals.
Investment and Private Equity – This sector is relevant as the acquisitions involve significant share transactions and the involvement of investment companies like Monial AS and Baker Steel Resources Trust.

Financials

C$24,876,618 – The aggregate value of Blue Moon shares issued to Monial AS.
C$17,368,666 – The aggregate value of Blue Moon shares held by Baker Steel Resources Trust after the acquisition.
US$100,000 – Investment made by Skott Mealer into Blue Moon Metals for acquiring shares.
C$0.30 – Per share value for transactions involving Monial AS and Baker Steel Resources Trust, representing equivalent NOK value per share of Nussir.

Participants

Name	Role	Type	Description
Blue Moon Metals Inc.	Acquiring Company	Company	Blue Moon Metals is a mining company involved in the acquisition of Nussir ASA and Nye Sulitjelma Gruver AS.
Nussir ASA	Target Company	Company	Norwegian mining company, part of the acquisition by Blue Moon Metals.
Nye Sulitjelma Gruver AS (NSG)	Target Company	Company	Another Norwegian mining company fully acquired by Blue Moon Metals.
Monial AS	Shareholder/Seller	Company	Former shareholder of Nussir ASA, became a significant shareholder in Blue Moon post-acquisition.
Baker Steel Resources Trust Limited	Shareholder	Company	A company that increased its stake in Blue Moon through the acquisition.
Skott Mealer	President and COO	Person	Recently appointed President and COO of Blue Moon Metals.
Theodore Veligrakis	VP of Exploration	Person	Recently appointed Vice President of Exploration at Blue Moon Metals.
Dr. Karin Thorburn	Board Member	Person	Newly appointed board member of Blue Moon Metals with a strong background in finance and M&A.
Francis Johnstone	Board Member	Person	Newly appointed board member with significant experience in mining and project development.
TSX Venture Exchange	Regulatory/Exchange	Company	The stock exchange where Blue Moon Metals is listed, playing a role in the regulatory approval of share transactions and uplisting.