Resolution Minerals Ltd (ASX:RML, OTC:RLMLF) and Snow Lake Resources Ltd (NASDAQ: LITM) have mutually agreed not to proceed with the proposed Horse Heaven transaction under the August NBIO, after failing to agree commercial terms. The A$225 million asset-level, scrip-heavy offer was not tax effective or attractive to RML, which preferred a greater cash component. Exclusivity has ended and no binding documents were signed.
RML will continue to assess strategic options while progressing its planned NASDAQ listing.