Base Resources (AU:BSE) has released an update.
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Base Resources Limited has proposed a scheme of arrangement with Energy Fuels Inc., where shareholders will vote on Energy Fuels acquiring all shares of Base Resources, offering shareholders 0.026 Energy Fuels shares and a special dividend for each Base Resources share held. The Board, with PwC Securities’ endorsement, unanimously recommends approval, citing the deal as beneficial in the absence of a better offer. If shareholders consent, the implementation of the scheme is set for early October 2024, subject to court approval and other conditions, marking the creation of a prominent global critical minerals group.
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