Mankayan Project Update - Blackstone & IDM Merger

Mankayan Project Update

Blackstone and IDM Merger

Bezant (AIM: BZT), the copper-gold exploration and development company, announced on 6 February 2025 that ASX listed Blackstone Minerals Ltd ("Blackstone") had announced a proposed merger (the "Proposed IDM Merger") via a scheme of arrangement ("Scheme") with IDM International Limited ("IDM") through which the Company holds its interest in the Mankayan Copper Gold project in the Philippines ("Mankayan Project"). Blackstone have on 10 June 2025 released an announcement to advise that IDM's shareholders have today voted in favour of the proposed acquisition of all the fully paid ordinary shares in IDM by Blackstone via a scheme of arrangement ("Scheme") and that the key events and the expected timing in relation to the approval and implementation of the scheme are set out in the indicative table below:

The above timetable is indicative only and the stated dates and times are subject to change

A copy of Blackstone's announcement of 10 June 2025 titled "Update: Blackstone and IDM Merger - IDM Scheme Meeting Results" which incorporates an announcement dated 10 June 2025 from IDM has been published on the ASX website at

If the Proposed IDM Merger is completed Bezant will receive 139,365,659 Blackstone shares and 2,543,750 options to acquire Blackstone shares at AUD0.06 expiring on 5 February 2029 for its IDM shares and IDM options. The Blackstone closing share price on 10 June 2025 was AUD 9.4 cents (approximately 4.5 pence)