N.A. Rare Metals to join Sunstate

North American Rare Metals (ME) is set to amalgamate with Sunstate Cablesystems.

Prior to doing so, North American will create a wholly owned subsidiary into which it will transfer all its assets. All further mining activities will be conducted by the new subsidiary.

Shareholders of North American will receive one share of the amalgamated company for each share held. They will also receive a share in the new subsidiary.

The amalgamation has yet to be approved by regulators and shareholders.