Xanadu Mines Ltd. has announced an update regarding its previously disclosed merger and acquisition activities. The company has entered into a Bid Implementation Agreement with Bastion Mining Pte Ltd for a recommended off-market takeover offer. In addition, Xanadu has completed a A$17.2 million placement to Bastion. As a result of these developments, Xanadu has withdrawn the Put Option Resolution, which was the sole item on the agenda for the Extraordinary General Meeting initially scheduled for 4 June 2025. Consequently, the meeting has been cancelled, as no further business is to be conducted.
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