Podium Minerals (ASX:POD) completed the acquisition of all the assets of EVM Nickel, a company in voluntary administration, according to a Thursday Australian bourse filing.
It completed a deed of company arrangement for the deal and brought on board Johnson Matthey as its largest shareholder through the transaction, holding a 16.25% stake in Podium.
The assets include the Range Well nickel project, bordering Podium's Parks Reef platinum group metals project in Western Australia.
It issued 110.7 million and 2.3 million Podium shares to Johnson Matthey and EV Metals Group, respectively, EVM Nickel's two largest creditors.
Podium Minerals also paid nearly AU$1.2 million in cash to the administrators for distribution and granted Johnson Matthey a 1.5% net smelter royalty over the Range Well project.
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