Nova Minerals (ASX:NVA) said the Supreme Court of New South Wales has approved its proposed schemes of arrangement, enabling newly formed Nova Minerals Corp to acquire all existing shares and Nasdaq-listed warrants and become the group's new US-based holding entity, according to an Australian bourse filing on Tuesday after market hours.

The schemes are expected to take legal effect on Wednesday upon lodgment of the court orders with the Australian Securities and Investments Commission, after which the company shares are anticipated to be suspended from trading on the Australian Securities Exchange, the filing added.