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M&A / Property Routine +

Fox River Obtains Securityholder Approval for Plan of Arrangement with Avenir Minerals Limited

Fox River Shareholders Back $1.10 Cash Takeover by Avenir, Clearing Path for July Closing

By The Northwire Desk — AI Analysis Jun 23, 2026 · 13:15 FOX · 1.1 Fox River Resources Corporation
Executive Summary
  • Fox River Resources shareholders have overwhelmingly approved the plan of arrangement for Avenir Minerals Limited to acquire the company.
  • Voting results show ~97.8% overall support, with 97.819% of all votes cast and 97.194% of votes cast by independent shareholders in favor.
  • The transaction remains an all-cash offer of $1.10 per common share.
  • The company will now apply for a Final Order from the Ontario Superior Court of Justice, with the hearing scheduled for on or about June 24, 2026.
  • Closing is anticipated on July 2, 2026, subject to the Final Order and satisfaction/waiver of standard conditions.
Material Impact
  • The approval removes the primary corporate governance hurdle, significantly increasing deal certainty.
  • The stock is trading at $1.10, exactly at the offer price. The market has fully priced in the transaction, leaving minimal arbitrage spread.
  • No new financial, operational, or strategic surprises are introduced. The impact is purely procedural, confirming the path to closing rather than altering the fundamental value proposition.
FOX · Price
Company Overview
  • Fox River Resources is a critical minerals exploration company focused on the Martison Phosphate Project near Hearst, Ontario.
  • The project holds a Preliminary Economic Assessment (PEA) with an effective date of April 21, 2022.
  • In November 2025, the company successfully demonstrated the ability to produce purified phosphoric acid (PPA) from Martison concentrate, a key feedstock for LFP battery manufacturing.
  • The company is in the exploration stage with no revenue history. The proposed acquisition by Avenir Minerals represents a strategic entry for Avenir into a large-scale phosphate asset with critical mineral potential.
Read the original news release →

More from Fox River Resources Corporation

Jul 01, 2026 · 07:00

Deal-priced at $1.10; procedural share issuance to CLFN marks final step before Avenir Minerals acquisition closes.

M&A / Property Jun 24, 2026 · 18:00

Court clears $1.10 cash acquisition by Avenir Minerals; deal certainty achieved, closing imminent.

M&A / Property Jun 17, 2026 · 07:30

Fox River Resources Nears $1.10 Cash Takeover by Avenir Minerals as Martison Phosphate Deal Clears Final Procedural Hurdles

M&A / Property Jun 12, 2026 · 16:30

Martison Phosphate Project acquisition by Avenir Minerals nears shareholder vote, locking in ~20% premium.

M&A / Property May 20, 2026 · 16:15

Fox River secures court green light for shareholder vote on Avenir takeover, keeping C$94.3M all-cash deal on track.

M&A / Property May 04, 2026 · 10:27

Strategic Exit via All-Cash Takeover

M&A / Property