Trek Metals Limited (ASX:TKM) entered into a Scheme Implementation Agreement to acquire EDGE MINERALS LIMITED for AUD 4.34 million on June 3, 2022. Total consideration for the acquisition is approximately AUD 4 million with Edge shareholders to receive 2.12 new Trek shares for each Edge share held. Upon implementation of the Scheme, it is estimated that Trek shareholders will own 86.53% of the combined entity and Edge shareholders will own the remaining 13.47%. Transaction is subject to regulatory and shareholder approvals including Edge shareholders approving the Scheme by the requisite majorities under the Corporations Act; The Court approving the Scheme in accordance with section 411(4)(b) of the Corporations Act; Trek shareholders approving the Scheme for the purposes of ASX Listing Rule 10.1; and Other conditions customary for a transaction of this nature. Trek and Edge shareholders will be asked to approve the Scheme at separate meetings expected to be held in September 2022. Implementation of the Scheme is targeted for October 2022. The Supreme Court of Western Australia (Court) has made orders approving the dispatch of the Scheme Booklet by Edge. As of October 21, 2022, Edge Minerals Limited's shareholders approved the transaction and approval of the scheme will be sought at a hearing of the Supreme Court of Western Australia October 26, 2022. As of October 27, 2022, Supreme Court of Western Australia has made orders approving the Scheme of Arrangement by which Trek will acquire the issued shares in Edge Minerals. The transaction is expected to complete on November 8, 2022. Blackwall Legal LLP acted as legal advisor to Trek Metals Limited (ASX:TKM). Steinepreis Paganin acted as legal advisor to EDGE MINERALS LIMITED.

Trek Metals Limited (ASX:TKM) completed the acquisition of Scheme Implementation Agreement to acquire EDGE MINERALS LIMITED on November 8, 2022.