Details of Greenstone Resources and Horizon Minerals merger implementation

Greenstone Resources Limited (ASX: $GSR) has successfully implemented the schemes of arrangement with Horizon Minerals Limited (ASX: $HRZ) as announced on 6 June 2024. As per the implementation, Horizon acquired 100% of the fully paid ordinary shares in Greenstone and 100% of the listed Greenstone options. Eligible Greenstone securityholders have been issued 0.2868 New HRZ Shares for every 1 GSR Share held on the Record Date under the Share Scheme, and 0.2868 New HRZ Options for every 1 GSR Listed Option held on the Record Date under the Option Scheme.

Executive commentary on the merger implementation

The Schemes of Arrangement between Horizon Minerals and Greenstone Resources have been successfully implemented, marking a significant milestone for both companies. The merger will enable us to leverage combined strengths and resources to pursue growth opportunities and create enhanced value for our shareholders. We are excited about the prospects that lie ahead and are committed to delivering on the promises made during this merger process.

Summary of Greenstone Resources and Horizon Minerals merger implementation

Greenstone Resources Limited (ASX: $GSR) has completed the implementation of the schemes of arrangement with Horizon Minerals Limited (ASX: $HRZ), resulting in Horizon acquiring 100% of Greenstone's shares and listed options. As a result, eligible Greenstone securityholders have been issued new HRZ Shares and HRZ Options. Following the implementation, Greenstone will apply for the termination of official quotation and removal from the official list of the ASX. Additionally, there have been changes in the directors and officers of both companies. The successful implementation of the merger signifies a new chapter for both entities, as they aim to capitalize on synergies and pursue growth opportunities in the future.