A GoviEx drill rig on its Muntanga project in Zambia, Africa. Photo: GoviEx Uranium
GoviEx Uranium (TSXV: GXU) has entered the Australian capital market by combining with ASX-listed shell company Tombador Iron (ASX: TI1) in a proposed reverse takeover (RTO) that would see GoviEx end up with a new capital structure, investor base and additional cash on hand.
Under the RTO arranged on Monday, Tombador would acquire all of GoviEx’s Class A shares, issuing 0.2534 of its own shares for each GoviEx share acquired. Upon completion, existing GoviEx shareholders would own 75% of the combined company, which will be renamed as “Atomic Eagle” listed on the Australian exchange.
Compared to GoviEx, Atomic Eagle will have a much tighter share structure, with approximately 345 million outstanding, which the company says is “expected to result in a more efficient float and reduced share price volatility” and…
