09:40 AM EST - Defense Metals Corp. : Announced that on Friday November 13, 2020, Fortress Value Acquisition Corp. held a special meeting to consider the previously announced business combination with MP Materials. MP Materials is the owner and operator of Mountain Pass, the only rare earth element mining and processing site of scale in North America. The FVAC-MP Materials special meeting represents a significant milestone in the establishment of a North American critical magnet metals supply chain. If approved, the combined company created by the FVAC-MP Materials merger would have an estimated post-transaction equity value of approximately $1.5 billion. Completion of the FVAC-MP Materials merger would signal a sea-change in ongoing joint Canadian-U.S.A. government efforts towards the establishment of a North American critical metals supply chain. Defense Metals anticipates the merger would have a positive impact on the advancement of Canadian critical metals deposits, which includes Defense Metals Wicheeda Rare Earth Element (REE) Property. Defense Metals Corp.
shares V.DEFN are trading off 2.94 percent at $0.17.
