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FINWIRES

Blue Moon Metals, Alpha Future Funds to Combine Holdings in Norway's Sulitjelma Mining District

-- Blue Moon Metals (MOON.V) said Tuesday that it entered into a non-binding letter of intent with Alpha Future Funds to combine their subsidiaries Nye Sulitjelma Gruver (NSG) and VMS Explorations into a single entity.

The subsidiaries own extraction and exploration permits over the historic Sulitjelma mining district in Norway, according to Blue Moon.

"Combining NSG and VMS is expected to allow for an integrated development opportunity prioritizing mining of targeted high-grade zones and centralized haulage and processing to strengthening project economics and streamline advancement toward production," Blue Moon said.

The letter of intent allows the companies to complete due diligence and negotiate a definitive agreement within a four-month period.

Blue Moon traded 3% higher at US$8.37 per share at last look in Nasdaq pre-market trading.

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