08:57 AM EST, 11/19/2025 (MT Newswires) -- Pantages Capital Acquisition Corp. ( PGAC ) , a publicly traded special purpose acquisition company, and MacMines Austasia, a geological exploration and mining company, said Wednesday they have entered a definitive agreement to combine with newly formed Horizon Mining, Horizon Merger 1 and Horizon Mining SPV.

The agreement values Horizon Mining SPV at $180 million.

Under terms of the agreement, MacMines will receive an ordinary share of Horizon Mining, while Horizon Mining SPV and Pantages will become wholly owned subsidiaries of Horizon Mining. Shares of the combined company are expected to trade on Nasdaq after closing of the transaction and stock exchange approval, the companies said.

The boards of both companies have approved the transaction, which remains subject to shareholder approvals, the companies said.