Completion of Sarıkaya Acquisition
The Company is pleased to report the closing of its previously announced acquisition of the Sarıkaya zinc project in Türkiye. Through its wholly owned subsidiary, Pasinex Arama ve Madencilik A.Ş., ("Pasinex Arama"), Pasinex has acquired all of the outstanding shares of Aydın Teknik. The share transfer, pledge agreement and share certificate agreement have now been completed, and Pasinex Arama is the sole shareholder of Aydın Teknik. The acquired shares are subject to a USD $2,000,000 pledge in favour of the sellers. As disclosed in earlier announcements, Sarıkaya is located near the Company's operating Pinargozu mine and contains 30%-50% high-grade, carbonate-hosted zinc mineralization. The project has demonstrated near-surface zones of zinc mineralization that can be directly mined with minimal processing, while also showing strong potential for discovery of additional mineralization through systematic drilling. With the closing of this transaction, Pasinex now controls 100% of both Pinargozu and Sarıkaya through Pasinex Arama, consolidating its Turkish operations and strengthening its growth pipeline.
Change to Financial Year-End
The Company also announces a change in its financial year end from December 31 to March 31 to better align its reporting cycle with industry peers and to reduce pressure on calendar year-end reporting timelines. Pasinex will file a transitional report covering a fifteen-month period from January 1, 2025, to March 31, 2026, with audited financial statements. The next financial year will cover the twelve-month period from April 1, 2026, to March 31, 2027.
Board Nomination and AGM
The Board of Directors intends to nominate Dr. Mehmet Kömürcü for election to the Board at the upcoming Annual General Meeting ("AGM"). Dr. Kömürcü is a partner in Dentons' Toronto ...
