Javelin Minerals Limited (ASX:JAV) agreed to acquire Gecko Minerals Limited on September 5, 2023. Under the proposed takeover offer, Javelin will offer to Gecko shareholders 185 Javelin shares for every Gecko share held. In the event that all Gecko shareholders accept (or Javelin reaches the 90% compulsory acquisition threshold) Javelin will issue a total of approximately 5 billion shares pursuant to the takeover offer.

In the event the proposed takeover offer is successful Eckhof, Gasson and Le Roux will join Javelin?s existing Technical Director Rob Mosig to form the technical committee for Gecko. The transaction is subject to completion of satisfactory due diligence, Gecko Uganda being granted the three Exploration Licences currently under application, approval of Javelin shareholders, A 90% minimum acceptance condition, a regulatory approval and a no regulatory action condition and a condition restricting capital expenditure by Gecko other than as approved by Javelin. The proposed takeover offer is unanimously recommended by the directors of Gecko in the absence of a superior offer and Javelin has also entered into Pre-Bid Acceptance Agreements with Gecko shareholders holding approximately 17.9% of the total shares in Gecko who have agreed to accept the proposed takeover offer in the absence of a superior offer.