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(Alliance News) - Adriatic Metals PLC on Friday said Tethyan Resource Corp now has a final order from the Supreme Court of British Columbia approving its plan of arrangement to be acquired by Adriatic Metals.
Back in June, precious and base metals explorer and developer Adriatic Metals entered into definitive agreement with fellow metals explorer Tethyan for its acquisition through the issue of 0.166 of an Adriatic share for each Tethyan share.
Tethyan shareholders have already approved the all-share acquisition.
Upon completion of the deal, Tethyan will apply to delist its shares from the TSX Venture Exchange.
Shares in Adriatic Metals were down 2.7% at 133.00 pence in London on Friday morning.
By Anna Farley; annafarley@alliancenews.com
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