Court orders have been lodged approving the proposed merger between Torque Metals (ASX:TOR) and Aston Minerals (ASX:ASO) by way of schemes of arrangement.
Aston was on 28 May 2025 suspended from trading as court orders lodged with the Australian Securities and Investments Commission (ASIC) were made by the Supreme Court of Western Australia approving the schemes.
Torque earlier this year agreed to acquire all Aston in a merger of equals transaction.
It is expected that the schemes will be implemented and the consideration issued on 10 June 2025.
In January, BDO Corporate Finance Australia was appointed independent expert in connection with the schemes to investigate and provide an independent report to Aston shareholders on the fairness and reasonableness of the merger.
The deal is a merger of equals, creating a “well-funded, growth-focused gold exploration company with projects located in two tier-one mining jurisdictions – the Western Australian Goldfields and Ontario, Canada”.
Write to Adam Orlando at Mining.com.au
Images: Aston
