Intermin Resources Ltd (ASX:IRC) executed a merger implementation agreement to acquire MacPhersons Resources Limited (ASX:MRP) for AUD 27.9 million on December 10, 2018. Intermin Resources Limited intends to offer, by way of a scheme of arrangement, 1 Intermin share for every 1.8227 MacPhersons Resources Limited’s shares valuing MacPhersons at approximately AUD 0.0825 per share. After the transfer of shares, MacPhersons will become a wholly owned subsidiary of Intermin. After closing, the combined company will be known as Horizon Minerals Limited. Intermin shareholders will hold approximately 55% of the merged entity and MacPhersons shareholders will hold the remaining 45% of the merged entity. Both the parties agreed to a mutual termination fee of AUD 0.28 million. The merged entity will be led by Intermin’s Managing Director Jon Price and supported by a strong Board comprising Intermin Chairman Peter Bilbe as Non-Executive Chairman and Macphersons’ Directors Ashok Parekh and Jeff Williams as Non-Executive Directors. Peter Hunt resigns from the Intermin Board as a Director to Macphersons. Deal is subject to approval from Supreme Court of Victoria; approval from shareholders of MacPhersons at the scheme meeting which will be held on May 31, 2019; receipt of all necessary ASX and Australian Securities and Investments Commission consents, waivers and approvals; all other necessary regulatory consents, waivers and approvals; and receipt of all third party consents, waivers and approvals. The Board of MacPhersons unanimously recommended the merger. As of April 17, 2019, Supreme Court of Victoria approved the convening of shareholders meeting of MacPhersons. As of May 31, 2019, the shareholders of MacPhersons approved the transaction. As of June 6, 2019, the Supreme Court of Victoria approved the scheme and the scheme became effective. The merger implementation date is set as June 30, 2019. As of April 17, 2019, the merger implementation date is June 14, 2019. Application for the admission of the new Intermin shares to trading on ASX will be made by Intermin and normal trading of the new Intermin Shares is expected to commence on June 17, 2019. Jett Capital Advisors LLC acted as financial advisor and Simon Panegyres of Mills Oakley Lawyers Pty Ltd acted as legal advisor to Intermin in respect to the merger. Richard Lustig, Caroline Tait and Chris Taylor of Baker McKenzie acted as legal advisors to MacPhersons. BDO Corporate Finance (WA) Pty Ltd acted as independent expert for MacPhersons Resources. BDO Corporate Finance (WA) Pty Ltd will receive an advisory fee of AUD 0.05 million. Intermin Resources Ltd (ASX:IRC) completed the acquisition of MacPhersons Resources Limited (ASX:MRP) on June 14, 2019. As consideration, 192.6 million share were issued by Interim. Jeffrey Williams and Ashok Parekh have been appointed as directors of Intermin and Peter Hunt has resigned as a director. Peter Bilbe and Jonathan Price have been appointed as directors of MacPhersons and Peter Rozenauers has resigned as a director, Bianca Taveira has been appointed as Company Secretary of MacPhersons and Stephen Hewitt-Dutton has resigned as Company Secretary. MacPhersons Resources Limited (‘MRP’) will be removed from the Official List of ASX Limited from the commencement of trading on June 17, 2019.