Quantum Announces Closing of a Merger With Silver Mountain Mines

- January 31st, 2011

Quantum Rare Earth Developments Corp. (CVE:QRE) reports its closing of a merger with Silver Mountain Mines Corp.

Quantum Rare Earth Developments Corp. (TSXV:QRE) reports its closing of a merger with Silver Mountain Mines Corp.

The press release is quoted as saying:

Pursuant to the terms of the Merger Agreement, the Company, together with a wholly-owned Nevada subsidiary of the Company (“Acquisition Corp.”) and Silver Mountain carried out the Merger, whereby Silver Mountain merged with and into Acquisition Corp., with Acquisition Corp. carrying on as the surviving corporation under the name “Silver Mountain Mines Corp.” All of the Silver Mountain shares have been cancelled and the former shareholders of Silver Mountain have received one share of the Company for each share of Silver Mountain formerly held by such persons. A total of 8,962,173 shares have been issued to the former shareholders of Silver Mountain.

Click here to access the entire news release.

Click here to access Quantum’s company profile.

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