Cygnus Metals announces strategic merger

Cygnus Metals (ASX:CY5) has announced shareholder approval for its merger with Doré Copper Mining Corp. This merger is set to finalize by December 31, 2024, upon receiving final court approval and meeting other conditions. The merger facilitates Cygnus's acquisition of Doré's outstanding shares, supported by nearly unanimous votes from Doré's shareholders. Cygnus also secured shareholder approval for the second tranche of its A$11 million capital raising.

Merger and strategic outlook

The merger between Cygnus Metals and Doré Copper Mining Corp. has been approved by shareholders, with finalization expected by December 31, 2024, pending court approval. This strategic move will allow Cygnus to acquire Doré's shares and enhance its position in the critical metals market, focusing on copper and lithium. With the successful approval of an A$11 million capital raising, Cygnus is well-positioned financially to support its growth ambitions. The company aims to strengthen its presence as a dual-listed entity on ASX and TSXV, subject to acceptance by TSXV. Moving forward, Cygnus remains focused on its strategic objectives while acknowledging the inherent risks and uncertainties of forward-looking statements.

Executive commentary on merger and capital raising

The merger with Doré Copper Mining Corp. positions Cygnus Metals as a leading explorer and developer of critical metals. We are excited about the opportunities this brings to focus on high-grade copper and lithium resources. The overwhelming support from shareholders and the successful capital raising are crucial steps in realizing our strategic objectives.