Dacian Gold Limited (ASX:DCN) entered into a binding scheme implementation deed to acquire NTM Gold Limited (ASX:NTM) on November 15, 2020. Under the terms of the transaction, each NTM Gold Limited shareholder will receive 1 Dacian Gold Limited share for every 2.7 NTM shares and outstanding NTM options will be exchanged for new Dacian options at the 2.7 exchange ratio and total performance rights of 9.25 million of NTM Gold Limited. As a result, shareholders of Dacian and NTM will hold 68.4% and 31.6%, respectively, of the issued ordinary shares in the merged group. Upon completion, the merged group will have approximately 813 million ordinary shares outstanding and continue to trade as Dacian Gold Limited under the ticker DCN:ASX. The deed includes exclusivity agreement in respect of NTM Gold Limited including no shop, no talk and no due diligence. The transaction is subject to approval from shareholders of NTM Gold Limited, court approval and regulatory approval. The transaction is unanimously approved by Board of Directors of NTM Gold Limited. As of March 3, 202, the transaction has been approved by the shareholders of NTM Gold Limited. As of March 15, 2021 The Supreme Court of Western Australia approved the scheme.

The transaction is expected to be completed on March 3, 2021. The deal is expected to be completed by mid of March 2021. Treadstone Resource Partners Pty Ltd acted as financial advisor and HWL Ebsworth Lawyers Pty Ltd. acted as legal advisor for Dacian Gold Limited. Steinepreis Paganin acted as legal advisor for NTM Gold Limited. BDO Corporate Finance (WA) Pty Ltd acted as financials advisor to NTM Gold Limited.