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Iris Acquisition Corp II (IRAB) has signed a non-binding letter of intent to merge with Freedom Metals Corporation, which will be formed by American Tungsten & Antimony Ltd (AT4). The merger will incorporate the Sage Hen Nevada Tungsten Project and the Central Idaho Antimony Project into Freedom Metals.

This new entity will focus on critical minerals, specifically antimony and tungsten, vital for defense and industrial sectors. The transaction awaits due diligence, regulatory approvals, and other customary conditions. Advisors for the deal include Hall Chadwick and Cohen & Company Capital Markets.