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Nova Minerals Says Schemes for New US Holding Entity Become Legally Effective; Shares Fall 7%

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Nova Minerals (ASX:NVA) said court orders approving Nova Minerals Corp as the new US holding entity for the Nova Minerals group have been lodged with the Australian Securities and Investments Commission, making the associated schemes of arrangement legally effective, according to a Wednesday filing with the Australian bourse.

The Supreme Court of New South Wales recently approved proposed schemes allowing Nova Minerals Corp to acquire all existing shares and Nasdaq-listed warrants of Nova Minerals.

Nova Minerals expects its Australia-listed shares to be suspended from the bourse at the close of Wednesday trading.

The shares fell 7% in recent trade.

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