USFM Corporation to Go Public via Merger with Twin Vee PowerCats

The merger, expected to close in the third quarter of 2026, will see the combined company trade on the NYSE American. Under the terms, Twin Vee stockholders will receive equity in the new venture alongside a contingent value right tied to the future performance of the separated marine division. The transaction has secured approval from both companies' boards of directors and awaits regulatory and shareholder green lights.

This corporate shift aligns with a high-stakes exploration season for USFM at its Disko-Nuussuaq Project in West Greenland. The site is widely considered geologically analogous to the massive Norilsk-Talnakh nickel-copper sulfide systems in Russia. Two drill rigs are already active at the Qullissat target on Disko Island, aiming to penetrate up to 9,000 meters across the region this year. The project, operated by 80 Mile plc, is backed by a US$30 million funding commitment from USFM. The company maintains that the region’s potential is supported by historical findings, including a 28-tonne boulder of massive sulfide discovered in 1994, which yielded high grades of nickel, copper, and cobalt.