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The latest announcement is out from Poseidon Nickel Limited ( (AU:POS) ).
Poseidon Nickel Limited and Horizon Minerals Limited have entered into a scheme implementation deed for a proposed merger, where Horizon will acquire all shares and options of Poseidon. The merger involves a two-tranche private placement by Horizon, issuing shares to Golden Crane Holdings to raise funds for project development and potential debt refinancing. The Independent Expert has deemed the schemes not fair but reasonable, and in the best interests of Poseidon shareholders. Further consultations with regulatory bodies will follow.
More about Poseidon Nickel Limited
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $12.28M
See more insights into POS stock on TipRanks’ Stock Analysis page.