07:16 AM EDT, 07/17/2025 (MT Newswires) -- Rugby Resources ( RBMNF ) on Thursday said its shareholders approved the proposed acquisition by Pampa Metals (PM.CN).

Under the agreement, Pampa will acquire 100% of Rugby's outstanding common shares in a statutory plan of arrangement. Rugby shareholders are set to receive one Pampa common share for every 6.4 Rugby shares held. They will also receive common shares of a newly formed exploration company, Aegis Resources, on the basis of one share for every 10 Rugby shares held.

Rugby shareholders representing 55% of the outstanding common shares approved the deal at a special meeting, with nearly 100% of the total votes cast in favor of the transaction.

The deal, which is expected to close by July 24, is contingent on court approval and customary closing conditions. The Supreme Court of British Columbia hearing is scheduled for July 22.