Toro Energy Limited agreed to Spin-Off unknown stake in portfolio of non-core assets including nickel, gold and base metal assets in Western Australia on April 8, 2024. Upon completion of any demerger, existing Toro shareholders will have a significant interest in NewCo. Toro shareholders are also expected to be afforded a priority offer as part of any IPO, with an intention to seek an ASX listing for NewCo.

Transaction is subject to requisite approvals.