Overview of Horizon Minerals and Greenstone Resources merger update

Horizon Minerals Limited (ASX: $HRZ) and Greenstone Resources Limited (ASX: $GSR) have provided an update on the merger following the execution of a Scheme Implementation Deed announced on 13 February 2024. The merger will involve Horizon acquiring 100% of the fully paid ordinary shares in Greenstone and 100% of the listed Greenstone options, subject to various conditions. Greenstone has appointed BDO Corporate Finance (WA) Pty Ltd as the independent expert to investigate and provide a report on the fairness and reasonableness of the merger to its shareholders and listed optionholders.

Executive commentary on the merger update

The appointment of an independent expert marks a significant step in ensuring transparency and fairness throughout the merger process. We are committed to providing our shareholders and optionholders with a comprehensive and unbiased assessment of the proposed merger. The updated indicative timetable reflects our dedication to progressing the merger efficiently and in accordance with regulatory requirements.

Summary of Horizon Minerals and Greenstone Resources merger update

Horizon Minerals (ASX: $HRZ) and Greenstone Resources (ASX: $GSR) have made significant progress in the merger process, with the appointment of an independent expert and the release of an updated indicative timetable. The appointment of BDO Corporate Finance (WA) Pty Ltd as the independent expert demonstrates the companies' commitment to ensuring a fair and transparent assessment of the merger. The updated indicative timetable reflects the companies' dedication to advancing the merger efficiently. The announcement signifies a positive step forward in the merger process, indicating the companies' adherence to regulatory requirements and commitment to providing shareholders and optionholders with a comprehensive evaluation of the proposed merger.