Lepidico sees Desert Lion Energy obtain a final order

Company News

by Rachael Jones

Lepidico (ASX:LPD) says Desert Lion Energy has obtained a final order from the Ontario Superior Court of Justice approving a statutory plan of arrangement where a subsidiary of Lepidico will acquire all of the outstanding common shares of Desert Lion Energy.

Holders of Common Shares will receive 5.4 Lepidico shares for each Common Share held.

Management teams for Lepidico and Desert Lion Energy plan to travel to Namibia to ensure a smooth transition and commence exploration activities immediately following the closing.

Shares in Lepidico (ASX:LPD) closed flat at $0.026 yesterday.