MinRex Resources (ASX:MRR) finalised its merger with Electrum Discovery Corp.
The transaction, executed through a Canadian statutory plan of arrangement, sees MinRex acquiring 100% of Electrum’s issued and outstanding shares, effectively transitioning the company into a well-funded, multi-jurisdictional gold and copper explorer.
The merger bolsters MinRex’s portfolio by integrating advanced exploration assets across two continents.
Key to this endowment is Electrum’s Tlamino Gold Project in Serbia, which boasts a high-grade, near-surface NI 43-101 inferred resource of 670,000 ounces of gold equivalent at 2.9g/t.
This complements MinRex's existing Sofala Gold Project in New South Wales, which holds over 350,000 ounces of gold inferred resources within the prolific Lachlan Fold Belt.
Under the terms of the deal, Electrum shareholders received 7.9 MinRex shares for every Electrum share held.
Following the completion on April 10, Electrum is expected to be delisted from the TSX-V by April 14.
To guide this new chapter, MinRex has welcomed Dr Elena Clarici to its board, leveraging her extensive corporate and Serbian mining expertise.
The company's immediate strategy focuses on aggressive scaling at the Tlamino Project, with upcoming drilling programmes designed to unlock district-scale discovery potential.
At the time of reporting, MinRex Resources’ share price was $0.017.