Poseidon Nickel Moves Forward with Horizon Minerals Merger Proposal

Poseidon Nickel Limited ( (AU:POS) ) has issued an update.

Poseidon Nickel Limited has entered into a Scheme Implementation Deed with Horizon Minerals Limited for a proposed merger, where Horizon will acquire all Poseidon shares and options. The merger is expected to enhance future value growth for Poseidon’s stakeholders, and a voting process is underway with key deadlines for shareholders and optionholders to approve the schemes, which require a 75% majority to proceed.

More about Poseidon Nickel Limited

Poseidon Nickel Limited operates in the mining industry with a focus on nickel exploration. The company has been pursuing a revised strategy of targeted exploration and business development with a multi-commodity focus, which has included identifying gold targets across its projects.

Technical Sentiment Consensus Rating: Hold

Current Market Cap: $11.89M

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