HRZ: Horizon and Poseidon Merging to Create a Mid-Cap Producer

Horizon Minerals Limited (ASX: HRZ) and Poseidon Nickel Limited (ASX: POS) announced an exciting merger through a Scheme Implementation Deed, which will be conducted via Schemes of Arrangement under the Corporations Act 2001. With this merger, Horizon will acquire 100% of Poseidon’s fully paid ordinary shares and all unlisted options under code POSAAB, pending the fulfilment of certain conditions.

Moreover, Horizon has successfully secured AU$14 million in firm commitments for a placement to enhance and support the future of the combined business. This strategic transaction not only consolidates Horizon’s extensive gold resources with Poseidon’s renowned Black Swan processing infrastructure in the Kalgoorlie-Coolgardie districts, but it also positions the company for sustainable and profitable long-term gold production and cash flow as a leading independent mid-cap producer.

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