Aston Minerals and Torque Metals Announce Merger Progress

Aston Minerals Ltd ( (AU:ASO) ) has provided an update.

Aston Minerals Limited and Torque Metals Limited have announced an update on their merger plan, which involves Torque acquiring Aston entirely in an all-scrip transaction. An independent expert has been appointed to assess the fairness and reasonableness of the merger for Aston shareholders, with a proposed share scheme offering Aston shareholders 1 Torque share for every 5.2 Aston shares. This merger will result in equal ownership of the merged entity between Torque and Aston shareholders, excluding a recent Torque share placement. The companies have also outlined terms for acquiring Aston’s existing unlisted options, with specific exchange rates set for various option schemes.

More about Aston Minerals Ltd

Technical Sentiment Consensus Rating: Buy

Current Market Cap: $9.68M

For detailed information about ASO stock, go to TipRanks’ Stock Analysis page.