NSX (ASX:NSX) said the Australian Securities and Investments Commission (ASIC) granted approval to CNSX Markets, CNSX Global Markets, 1001290557 Ontario, and other parties acquiring a stake of over 20% in NSX under a scheme of arrangement, according to a Thursday Australian bourse filing.

CNSX confirmed that the credit facility with Scotiabank, which it plans to use to fund the scheme consideration, was finalized on Sept. 18.

CNSX intends to acquire all of the shares in NSX that it does not already own through the scheme of arrangement. The scheme is still subject to approvals by the NSX shareholders, as well as by the Australian Federal Court.