Carnaby Resources Sets Scheme Meeting for Evolution Mining Deal

Evolution Mining (ASX:EVN) and Carnaby Resources (ASX:CNB) are a step closer to closing a deal after an Australian court approved plans for a shareholders' meeting and booklet distribution for their scheme of arrangement.

The Supreme Court of Western Australia on Sept. 18, according to a same-day bourse filing, directed Carnaby to convene the scheme meeting, which it scheduled for Oct. 26. The scheme booklet, meanwhile, is expected to be released on Monday.

Pending other approvals, Evolution's acquisition of the Australian exploration and development company is expected to become effective Oct. 30.

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