White & Case advises USA Rare Earth on acquisition of Texas Mineral Resources Corp.

Global law firm White & Case LLP has advised USA Rare Earth, Inc. (NASDAQ: USAR) on its definitive agreement to acquire all of the outstanding shares of Texas Mineral Resources Corp. (OTCMKTS: TMRC) for 3,823,328 shares of USAR common stock.

The implied total deal value is approximately US$73 million, based on the closing price of USAR's common stock on March 4, 2026.

The acquisition establishes USAR as the sole operator and 100 percent economic beneficiary of the Round Top heavy rare earth, technology metals and industrial minerals project located in Hudspeth County, Texas, 85 miles southeast of El Paso, in which TMRC currently owns an 18.6 percent interest.

The White & Case team was led by M&A partners Gregory Pryor and Joseph Rosati, and Capital Markets partner Joel Rubinstein (all in New York). The team also included M&A associates Jaime Ma (New York), Elizabeth Fakhoury (Washington, DC) and Abigail Clemons (Chicago); and Capital Markets associate Russell Deutsch (New York).

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