Poseidon Nickel (ASX:POS) and Horizon Minerals (ASX:HRZ) said independent expert BDO Corporate Finance Australia continues to believe that their proposed merger is not fair but reasonable and in the best interests of Poseidon Nickel security holders in the absence of a superior offer, according to a Friday filing with the Australian bourse.
The statement comes after Horizon disclosed in a separate Friday Australian bourse filing a plan to raise AU$9.6 million via a private placement of 213.8 million shares at AU$0.045 each.
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