GUE Clears ASIC Hurdle as Snow Lake Takeover Scheme Booklet Registered

Okapi Resources Ltd. ( (AU:GUE) ) just unveiled an announcement.

Global Uranium and Enrichment Limited has had its scheme booklet for Snow Lake Resources Ltd’s proposed acquisition registered by the Australian Securities and Investments Commission, clearing a key regulatory hurdle for the transaction. The booklet, which outlines share and option schemes under which Snow Lake will acquire all remaining GUE shares it does not already own and replace existing GUE options with new Snow Lake warrants, is being dispatched to securityholders, who will vote on the proposals at upcoming scheme meetings. An independent expert has concluded both the share and option schemes are fair and reasonable and in the best interests of GUE securityholders in the absence of a superior proposal, and GUE’s independent directors have unanimously recommended investors support the transaction on that basis. If approved by the requisite majorities and subsequently endorsed by the Federal Court at a second hearing, the schemes would result in GUE being folded into an enlarged Snow Lake group, with implications for ownership structure and liquidity for existing GUE shareholders and optionholders.

More about Okapi Resources Ltd.

Global Uranium and Enrichment Limited is an ASX- and OTCQB-listed company focused on uranium and related enrichment assets, giving investors exposure to the nuclear fuel value chain. Its securities include fully paid ordinary shares and unlisted options, and it is the target of a proposed acquisition by North America–listed Snow Lake Resources Ltd, which is seeking to consolidate ownership of the company.

Average Trading Volume: 1,314,200

Technical Sentiment Signal: Strong Sell

Current Market Cap: A$29.16M

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