Electrum's Merger with MinRex Receives Final Court Order

The most recent news (April 2, 2026) confirms that the Supreme Court of British Columbia has granted the final order for the merger between Electrum Discovery Corp. and ASX-listed MinRex Resources Ltd. This follows the securityholder approval obtained on March 24, 2026. The merger is scheduled to close around April 9, 2026. Under the plan of arrangement, MinRex will acquire 100% of Electrum’s shares. Electrum shareholders will receive MinRex ordinary shares at an exchange ratio of approximately 7.9:1. Upon completion, Electrum will be delisted from the TSX Venture Exchange, and the combined entity will trade on the ASX.

The impact is Material - Positive as it represents the successful execution of the "Merger of Equals" strategy announced in January 2026. - Liquidity and Capital: The merger creates a combined entity with a pro forma cash balance of approximately AUD $8 million and no debt, significantly de-risking the company’s short-term survival. - Asset Diversification: The deal combines Electrum’s Serbian gold-copper assets (Novo Tlamino and Timok East) with MinRex’s Australian gold projects (Sofala), providing a more balanced jurisdictional profile. - Valuation Re-rating: Management expects a re-rating on the ASX, which often provides higher valuations for exploration-stage companies compared to the TSX-V. - Operational Continuity: The merger preserves the technical leadership, with Electrum’s CEO Dr. Elena Clarici joining the MinRex board.

Electrum Discovery Corp. is a copper-gold explorer focused on the Tethyan Belt in Serbia. - Flagship Project: Novo Tlamino Gold Project. - Resource: Inferred resource of 7.1 Mt @ 2.9 g/t AuEq (~670,000 oz AuEq) at the Barje Deposit. - Secondary Project: Timok East, located adjacent to the world-class Bor and Cukaru Peki deposits, currently in the target generation/early drilling phase.