Horizon Minerals and Greenstone Resources (ASX:GSR) announced their plan to merge as part of a strategic expansion.

The agreement involves Horizon acquiring all Greenstone shares at a premium of 89% over the pre-announcement trading price.

The merged entity, with Horizon holding 63.1% and Greenstone owning 36.9%, aims for growth in the Kalgoorlie-Coolgardie gold-mining region.

Horizon Minerals and Greenstone Resources targets to complete the merger by June, subject to approvals.