IMX Resources Limited (ASX:IXR) and Continental Nickel Limited (TSXV:CNI) announced they have entered into a definitive arrangement agreement whereby IMX may earn shares of Continental.
As quoted in the press release:
In connection with the Arrangement, IMX has agreed to apply to list its ordinary shares and the warrants issued under the Arrangement on the Toronto Stock Exchange (the ‘TSX’). IMX intends to retain its listing on the Australian Securities Exchange (the ‘ASX’) and add to its listing the IMX warrants issued under the Arrangement.
The combination of Continental and IMX will see the ownership and control of the Nachingwea Nickel Sulphide Project (the ‘Nachingwea Nickel Project’ or ‘Nachingwea’) in Tanzania, consolidated in a single entity.