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THEMAC Resources Group (OTC:MACQF) announced it has closed a going private plan of arrangement under the Yukon Business Corporations Act on October 22, 2025.
The purchaser, Tulla Resources Group Pty Ltd, acquired all outstanding common shares not already held by it at $0.08 per share, and now beneficially owns 100% of the issued common shares. The arrangement was approved by shareholders on October 7, 2025 and by the Supreme Court of Yukon on October 9, 2025.
The company expects TSXV de-listing effective on or about October 23, 2025, intends to apply to cease being a reporting issuer, and the purchaser will file an early warning report. Registered shareholders must deposit share certificates or DRS statements to receive consideration.
THEMAC Resources Group (TSXV: MAC / OTC: MACQF) obtained a Final Order from the Yukon Supreme Court on October 9, 2025, approving a plan of arrangement for a going-private transaction with Tulla Resources Group Pty Ltd.
Under the Arrangement, remaining shareholders will receive CAD $0.08 per common share. Parties expect to satisfy customary closing conditions and complete the transaction later in October 2025, after which THEMAC will become a wholly owned subsidiary and its TSXV common shares are expected to be delisted.
THEMAC (MACQF) shareholders approved a plan of arrangement on October 7, 2025 under which Tulla Resources Group will acquire all outstanding common shares not already owned by the purchaser.
Shareholders of 70,771,653 common shares (89.13% of outstanding shares at the August 29, 2025 record date) voted, with 95.07% of votes in favour (56.51% after MI 61-101 exclusions). Consideration is CAD $0.08 per share. THEMAC will seek a Final Order from the Yukon Supreme Court on October 9, 2025 and, subject to closing conditions, the arrangement is expected to complete in October 2025 with delisting from the TSXV.
THEMAC Resources (OTC:MACQF) reminds shareholders to vote by proxy ahead of the special meeting on Oct 7, 2025 to approve a statutory arrangement under the Yukon Business Corporations Act.
Under the Arrangement, Tulla Resources Group will acquire all remaining common shares for $0.08 cash per share. The Board unanimously recommended the Arrangement (Kevin and Andrew Maloney abstained) and proxy adviser ISS recommends FOR. Proxy voting deadline: 9:00 a.m. PT on Oct 3, 2025. Shareholders urged to vote online/phone due to Canada Post strike.
THEMAC Resources Group (TSXV: MAC) announced that the New Mexico State Engineer has denied their application to transfer 2,400 acre-feet of Santa Teresa water rights for use at the Copper Flat Mine. The application, filed in August 2019, sought to change the point of diversion to Copper Flat production wells and modify the place and purpose of use.
The company is exploring alternative water management solutions, including dry stack tailings technology, which could eliminate the need for Santa Teresa water rights. This more sustainable waste management approach is currently under advanced evaluation for both implementation and permitting requirements.
THEMAC Resources Group (TSXV: MAC) has entered into an arrangement agreement with Tulla Resources Group for a going-private transaction. Under the agreement, Tulla will acquire all outstanding common shares not already owned at $0.08 per share, representing an 11% premium to the 20-day volume-weighted average trading price of $0.072.
Tulla currently controls approximately 60.39% of THEMAC with 47,950,000 shares. The transaction requires approval from two-thirds of shareholders and a majority of minority shareholders at a special meeting scheduled for October 7, 2025. Locked-Up Shareholders holding 18.64% of shares have agreed to vote in favor, with the transaction expected to close in mid to late October 2025.
The Board unanimously approved the arrangement based on recommendations from a special committee and independent valuation by Evans & Evans, Inc., who deemed the consideration fair to minority shareholders.THEMAC Resources Group Limited (TSXV: MAC) has announced a proposed going private transaction with Tulla Resources Group Pty. Ltd., its controlling shareholder. Under the agreement, minority shareholders will receive $0.08 per share, representing an 11% premium over the 20-day volume-weighted average trading price of $0.072.
Tulla currently controls approximately 60.39% of THEMAC's shares (47,950,000 shares) and will become the sole shareholder after the transaction. The arrangement requires approval from two-thirds of shareholders and a majority of minority shareholders at a special meeting planned for early October 2025. The transaction is expected to close in mid to late October 2025, subject to court and regulatory approvals.
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