Kin Mining NL (ASX:KIN) entered into Scheme of Arrangement to acquire PNX Metals Limited (ASX:PNX) on April 15, 2024. Under the terms of agreement, KIN will provide 1 KIN share for every 13 PNX shares. The transaction is subject to Independent Expert?s Report, approval of Australian Foreign Investment Review Board, approval of PNX and KIN shareholders, Court approval, all PNX performance rights having lapsed, been exercised, or cancelled and various regulatory approvals required to implement the Scheme. The transaction is expected to close in late August 2024.

Taylor Collison Limited acted as financial advisor and Piper Alderman acted as legal advisor to PNX Metals Limited. Hamilton Locke Pty Ltd acted as legal advisor to Kin Mining.