Diatreme Resources' update on Metallica Minerals takeover bid

Diatreme Resources Limited (ASX: $DRX) has provided an update on its intention to make a takeover bid for Metallica Minerals Limited (ASX: $MLM). The conditional offer entails Metallica shareholders receiving 1.3319 ordinary shares in Diatreme for each Metallica share held. Diatreme has confirmed the satisfaction of one preliminary condition and is awaiting a decision on its ASX waiver application.

Executive Commentary on Preliminary Conditions Update

Diatreme is pleased to confirm the satisfaction of the preliminary condition related to the modification to section 629 of the Corporations Act. This development allows us to proceed with the withdrawal of our application with ASIC. However, we are still awaiting a decision on our ASX waiver application, and we will provide a further update to the market once we receive the outcome. We remain committed to the proposed takeover bid and will continue to keep our shareholders and the market informed of any significant developments.

Summary of Diatreme Resources' Update on Metallica Minerals Takeover Bid

Diatreme Resources (ASX: $DRX) has made progress in its intention to make a takeover bid for Metallica Minerals Limited (ASX: $MLM). The company has confirmed the satisfaction of one preliminary condition, allowing it to proceed with the withdrawal of its application with ASIC. However, the decision on the ASX waiver application is still pending. Diatreme remains dedicated to keeping the market updated on any further developments regarding the proposed takeover bid for Metallica Minerals Limited.