Blue Moon Metals agrees $220m Norway sale

Blue Moon Metals (NASDAQ:BMM) signed an agreement to sell Blue Moon Norway to ACG Metals for approximately $220 million in shares, transferring its Norwegian copper development interests.

The proposed sale includes the construction-stage Nussir copper mine and exploration-stage NSG property, with Blue Moon expecting approximately 8,853,632 ACG shares issued at an implied £18.70 each.

"The sale of Blue Moon Norway for equity consideration in ACG maintains our exposure to our assets while simultaneously streamlining our portfolio," said Blue Moon Metals Chief Executive Officer Christian Kargl-Simard.

The shares would represent 27.6% of ACG's basic equity and 21.8% on a fully diluted basis, with a six-month lockup and plans to distribute them to Blue Moon shareholders within 12 months of closing.

Blue Moon expects the transaction to close by November 30, 2026, subject to ACG shareholder, TSX Venture Exchange and other approvals, and plans to repay drawn Nussir financing at closing.

The company is refocusing on its U.S. critical metals portfolio, targeting production at Springer and Apex by the end of 2027, with approximately $125 million in existing cash and undrawn Elmet funding commitments.

Blue Moon acquired its Norwegian mining interests in 2025 and expanded its U.S. portfolio through the Springer and Apex acquisitions in 2026, alongside work on its namesake polymetallic project.ion terms.