(Alliance News) - Cheltenham-based exploration & development firm Adriatic Metals PLC on Tuesday said Tethyan Resource Corp has obtained an interim order of the Supreme Court of British Columbia.
Back in June, Adriatic Metals entered into definitive agreement with precious & base metals explorer Tethyan for its acquisition through the issue of 0.166 of an Adriatic share. Acquisition expected to be completed in August.
The interim order provides for, among other things, the holding of an annual general and special meeting of the holders of Tethyan shares to approve the arrangement.
Upon completion, Tethyan will apply to delist its shares from the TSX Venture Exchange.
Adriatic Metals shares closed 2.8% higher in London on Wednesday at 99.20 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Adriatic Metal. (ADT1)