Tar Sands to go public via a SPAC merger with Integrated Rail and Resources Acquisition.

Tar Sands, a company that owns refining and real estate assets and minerals and mining rights located in Vernal, Utah, agreed to go public via a SPAC merger with Integrated Rail and Resources Acquisition, a blank check company. Financial terms were not disclosed. “Today’s announcement of the Business Combination, refinery transload terminal development and operation, and commercialization marks a huge step forward towards the restart and optimization of the refinery. We have developed a very strong and talented team with deep industry expertise and experience between IRRX and Cando. We feel IRRX has created a transaction that reflects exactly what we set out to do, which was to unlock stranded or captive commodities and natural resources and get them to more distant markets using transportation optimizations and new infrastructure," Mark Michel, IRRX Chairman and CEO.