Tactical Resources Corp. filed a Form 20-F annual report with the U.S. Securities and Exchange Commission on October 30, 2026, covering the fiscal year ended July 31, 2026, and disclosing the consummation of a business combination that restructured the company under British Columbia law.

Key Highlights

  • Business combination closed: The combination contemplated by the Business Combination Agreement dated August 22, 2024, was consummated on August 13, 2026, according to the filing.
  • Exchange listing: The company's common shares, no par value, trade on NASDAQ:TREO under the name Tactical Resources Corp.
  • Shares outstanding: 13,524,682 common shares were outstanding as of the close of the period covered by the filing.
  • Jurisdiction change: Plum Acquisition Corp. III transferred by way of continuation from the Cayman Islands to the Province of British Columbia as part of the Domestication step.
  • Transfer restrictions: 63% of the Arrangement Consideration Shares are freely tradable upon Closing, while 37% are subject to restrictions on transfer for six months following Closing.
  • Emerging growth company: The registrant is classified as a non-accelerated filer and an emerging growth company under Rule 12b-2 of the Exchange Act.
  • Accounting basis: Financial statements in the filing were prepared in accordance with U.S. GAAP.

Business Combination and Corporate Restructuring Details

According to the filing, Tactical Resources Corp. (formerly known as Plum III Merger Corp., referred to as "PubCo") completed its business combination on August 13, 2026. The transaction involved three parties: Plum Acquisition Corp. III, Plum III Amalco Corp., and Tactical Resources Holdings Corp. The process proceeded in sequential steps, beginning with Plum's continuation from the Cayman Islands into British Columbia under the applicable provisions of the Business Corporations Act (British Columbia).

Following that Domestication, the filing discloses two amalgamation steps. First, Plum amalgamated with PubCo to form a single corporate entity (the "Plum Amalgamation"). Immediately afterward, Tactical Resources Holdings Corp. and Amalco amalgamated (the "TRC Amalgamation") to form a second unified entity. Under the Plum Amalgamation, each Plum Class A Share and Plum Class B ordinary share was exchanged on a one-for-one basis for a Common Share in PubCo's authorized share capital, while each Plum Warrant was converted into a warrant to purchase Common Shares.

The TRC Amalgamation introduced additional share terms. The filing states that each TRC common share (excluding any Cancelled TRC Shares or Dissenting Shares) was exchanged for Common Shares at the TRC Exchange Ratio. Existing TRC Options were assumed by PubCo and converted into options to purchase Common Shares, with the number of shares adjusted upward by multiplying by the TRC Exchange Ratio (rounded down) and the exercise price adjusted downward by dividing by the TRC Exchange Ratio (rounded up to the nearest cent). TRC RSUs were similarly converted into restricted stock units covering Common Shares of the combined entity. The company is incorporated in British Columbia, Canada, and maintains its principal offices in Vancouver.

What Was Disclosed

Tactical Resources Corp. filed its Form 20-F annual report for the fiscal year ended July 31, 2026, reporting the August 13, 2026 closing of a multi-step business combination that reincorporated the company in British Columbia and resulted in 13,524,682 common shares outstanding.