GoviEx Uranium Inc (TSX-V:GXU, OTCQB:GVXXF) announced that its securityholders have voted overwhelmingly in favor of the company’s proposed plan of arrangement with Tombador Iron.
At a special meeting held on October 24, GoviEx shareholders, warrantholders, and optionholders approved the transaction, which will see Tombador acquire all issued and outstanding Class A common shares of GoviEx.
The deal will be completed through a court-approved plan of arrangement under the Business Corporations Act of British Columbia.
Once completed, the transaction will create Atomic Eagle, an ASX-listed uranium-focused company that will advance GoviEx’s Muntanga Project in Zambia.
The special resolution required approval from at least two-thirds of the votes cast by both GoviEx shareholders and the combined securityholder group.
According to GoviEx, approximately 98.7% of votes cast by shareholders and 99.2% of votes cast by all securityholders supported the arrangement.
Tombador shareholders had previously approved their side of the transaction at a general meeting on October 8, including the issuance of consideration shares to GoviEx shareholders, replacement options to GoviEx optionholders and warrantholders, and a corporate name change to Atomic Eagle.
GoviEx said it will now seek final approval from the Supreme Court of British Columbia at a hearing scheduled for November 5, 2025.
Pending court and regulatory approvals, the companies expect the transaction to close in mid-November.