Mergers & Acquisitions ·
HiTech Minerals proposes $3B NPV lithium deal with US Elemental Inc., targeting Nasdaq listing in Q4 2026
CSTWFConstellation Acquisition Corp I
Constellation Acquisition Corp I filed an 8-K under Regulation FD to furnish a transcript of a fireside discussion held on September 23, 2026, at the Water Tower Research Insights Conference. Ian Rodger, Chief Executive Officer of HiTech Minerals and incoming CEO of US Elemental Inc., discussed the proposed business combination between CSTA, HiTech, and PubCo (US Elemental). The transaction is expected to list US Elemental on Nasdaq under the ticker ULIT in Q4 2026. The company highlighted its McDermitt Lithium Project, a strategic U.S. asset with a resource of 21.5 million tonnes of contained lithium carbonate equivalent. A 2024 Pre-Feasibility Study indicated an NPV north of $3 billion and an IRR of nearly 18%. The company aims to complete financing of $20 million to $30 million and commence infill drilling in September 2026 to support a feasibility study targeted for completion by late 2027. Constellation Acquisition Corp I operates as a special purpose acquisition company focused on effecting a merger, capital stock exchange, asset acquisition, or similar business combination.