The 1.8Bt Project is located in central north
As announced to the ASX on
- The restructuring of the respective project ownership interests into a dedicated incorporated vehicle holding 100% of the project ("IPO Vehicle") with shares initially held by Horizon (25%) and the existing shareholders of RVT (75%);
- Establishment of a high-quality Board and executive team for the IPO Vehicle;
- An in-specie distribution of a portion of Horizon's shares in the IPO Vehicle to Horizon shareholders; and
- Application to list on the ASX through an IPO of new shares in the IPO Vehicle with a priority entitlement to existing Horizon shareholders.
As announced to the ASX on the
RVT now owns 100% of the Project with shares held by Horizon (25%) and existing shareholders of RVT (75%) and has commenced the IPO process with
The new
- Former Western Australian MP, senior WA cabinet minister and corporate strategist Mr
- Current RVT CEO and critical minerals specialist Dr
- Metallurgist, mineral economist and Horizon Managing Director Mr
Commenting on completion of the demerger, Horizon Managing Director
"With the restructure now complete, we can now advance the IPO and ASX listing process and continue progressing the Bankable Feasibility Study for this world class project."
Next steps
The Company will provide further updates as appropriate in accordance with its continuous disclosure obligations including the amount of funds to be raised under the proposed IPO, the use of funds and the record date for the in-specie distribution for eligible Horizon shareholders.
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About
Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.
Horizon has a number of joint ventures in place across multiple commodities and regions of
Contact:
Managing Director
T: +61 8 9386 9534
E: jon.price@horizonminerals.com.au
Media Relations -
T: +61 422 602 720
E: michael.vaughan@fivemark.com.au
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