Brightstar Resources and Kingwest Resources agreed to a strategic merger

Brightstar Resources Limited (ASX: BTR) announced that it had entered into a binding Scheme Implementation Deed with Kingwest Resources Limited, in which both companies will merge by way of a recommended court-permitted Scheme of Arrangement between Kingwest and its shareholders.

On execution of the Scheme, the merger of both companies will combine two corresponding Western Australian gold companies, leveraging Brightstar’s processing infrastructure to unlock the development potential of the Menzies Gold Project and the joint JORC Mineral Resource portfolio.

In the Scheme, each Kingwest Shareholder will get 1 Brightstar share for every 0.44 Kingwestshares held at the Scheme record date. If the Scheme is accepted and executed, shareholders of Brightstar and Kingwest will hold 57% and 43% stakes, respectively, in the Merged Group.

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