Court Approval of Merger Schemes

Greenstone Resources Limited (ASX: $GSR) has received court approval for the proposed merger with Horizon Minerals Limited (ASX: $HRZ). The Supreme Court of Western Australia has approved the schemes of arrangement under the Corporations Act 2001 (Cth), allowing Horizon to acquire 100% of Greenstone's fully paid ordinary shares and listed options. The Schemes will become legally effective upon lodgement of the Court orders with the Australian Securities and Investments Commission (ASIC), with Greenstone intending to complete this process by 6 June 2024.

Executive Commentary

We are pleased to announce the court approval of the merger schemes with Horizon Minerals. This marks a significant milestone in the process, and we are looking forward to the next steps as we work towards the completion of the acquisition. The approval by the Supreme Court of Western Australia reaffirms the strategic value of this merger and the benefits it will bring to both companies and their stakeholders.

Summary of Court Approval and Outlook

Greenstone Resources Limited has successfully obtained court approval for the proposed merger with Horizon Minerals Limited. The approval of the schemes of arrangement by the Supreme Court of Western Australia signifies a crucial step towards the completion of the acquisition. Upon lodgement of the Court orders with ASIC, the Schemes will become legally effective, leading to the suspension of Greenstone's shares and listed options from trading on the ASX. The company remains committed to the successful execution of the merger and anticipates the termination of official quotation of Greenstone Shares and Listed Options on ASX by 18 June 2024. This development aligns with Greenstone's strategic objectives and reflects its dedication to enhancing value for its shareholders through strategic partnerships and growth opportunities.