Winsome clears key court and regulatory steps toward Li-FT takeover vote

Winsome Resources Limited ( (AU:WR1) ) has provided an update.

Winsome Resources has advanced a proposed all-scrip acquisition by Canada’s Li-FT Power, under which Li-FT would acquire 100% of Winsome’s shares and unlisted options via parallel schemes of arrangement. Eligible shareholders are to receive Li-FT CHESS Depositary Interests on the ASX or, by election, Li-FT common shares on the TSX Venture Exchange, with optionholders receiving corresponding fractions of Li-FT securities.

During the March quarter, Li-FT confirmed satisfaction of a key condition tied to its transaction with SOQUEM, and the Supreme Court of Western Australia approved the convening of scheme meetings and the distribution of an explanatory scheme booklet. The booklet was registered with ASIC, released to the ASX, and dispatched to investors, clearing procedural hurdles ahead of shareholder and optionholder votes scheduled for early May that will determine whether the combination proceeds.

The most recent analyst rating on (AU:WR1) stock is a Buy with a A$0.75 price target. To see the full list of analyst forecasts on Winsome Resources Limited stock, see the AU:WR1 Stock Forecast page.

More about Winsome Resources Limited

Winsome Resources Limited is an Australian-listed exploration and development company focused on lithium projects. The company’s assets and activities are primarily positioned within the battery minerals sector, targeting demand from electric vehicle and energy storage markets, and its shares trade on the ASX, FSE and OTCQB.

Average Trading Volume: 851,422

Technical Sentiment Signal: Buy

Current Market Cap: A$96.94M

For detailed information about WR1 stock, go to TipRanks’ Stock Analysis page.