Flinders Mines (ASX:FMS) has entered into binding agreements with BBIG Group Pty Ltd (BBIG) to acquire 100% of the share capital in Forge Resources Swan Pty Ltd (FRS), the holder of various assets critical to the development of export infrastructure.
This proposed transaction will consolidate ownership of the Pilbara Iron Ore Project (PIOP) and Infrastructure Project under the one corporate entity, Flinders Mines.
The Proposed Transaction is subject to various conditions, including completion of a corporate restructure by BBIG and FIRB approval for Flinders' acquisition of FRS.
The Board of Flinders will work to complete the Proposed Transaction as soon as practical.