Rome Resources Ltd. (TSXV:RMR) entered into a non-binding heads of terms to acquire Pathfinder Minerals plc (AIM:PFP) for £8.8million in a reverse merger transaction on November 29, 2023. It is intended that the proposed acquisition would be affected by way of a plan of arrangement under the British Columbia Business Corporations Act.

The proposed acquisition will be subject to, inter alia, approval by AIM and the TSX-V and the satisfaction of any conditions imposed by them, as well as approval by the requisite majorities of shareholders of Rome and Pathfinder, the completion of due diligence to the satisfaction of both parties, regulatory approval, as well as the negotiation and entry into a final binding acquisition agreement. The long stop date to consummate the transaction is April 15, 2024. As on May 9, 2024, Pathfinder Minerals announce that the principals of OAK Securities have also indicated that they will make a cornerstone investment of at least £0.3 million in any fundraise contemplated in conjunction with the proposed acquisition of the entire issued share capital and to be issued share capital of Rome Resources Ltd.

John Depasquale, Vivek Bhardwaj, Stefano Aquilino and Joscelin Pinnington of Allenby Capital Limited acted as financial advisor to Pathfinder Minerals.