Hennessy Capital Investment Corp VI (HCVI) News & EventsHCVIHennessy Capital Investment Corp VI

Hennessy Capital Investment VI, Namib Minerals close business combination

Namib Minerals and Hennessy Capital Investment Corp. VI announced the completion of their business combination. The Business Combination was approved by HCVI stockholders at a special meeting held on May 6, 2025. Namib's ordinary shares and warrants are expected to commence trading on the Nasdaq Stock Market under the ticker symbols "NAMM" and "NAMMW," respectively, on or about June 6, 2025.

Hennessy Capital Investment, Namib Minerals: Registration Statement effective

Namib Minerals and HCVI announced that the SEC has declared effective the Registration Statement, which includes a definitive proxy statement/prospectus in connection with HCVI's special meeting of stockholders to approve the Business Combination. The Business Combination is expected to result in Namib Minerals listing its ordinary shares and warrants on Nasdaq under the ticker symbols "NAMM" and "NAMMW," respectively, subject to approval of its listing application. Additionally, HCVI announced that it has set a record date of February 18 and meeting date of April 7 for the Special Meeting.

Hennessy Capital Investment VI, Namib Minerals file registration statement

Namib Minerals, Greenstone, and HCVI announced the filing of the Registration Statement with the SEC on Friday, December 6, 2024. This filing represents a key milestone in connection with their previously announced proposed business combination, which is expected to result in Namib Minerals listing its ordinary shares and warrants on Nasdaq under the ticker symbols "NAMM" and "NAMMW," respectively, subject to approval of its listing application. While the Registration Statement has not yet become effective and the information contained therein is subject to change, it provides important information about Namib Minerals, Greenstone, HCVI, and the proposed business combination. Upon completion of the transaction, Namib Minerals will own Greenstone's mining and exploration assets and plans to accelerate its growth strategy and build out its portfolio of mining assets. Located strategically in the Bulawayo Greenstone Belt of Southern Zimbabwe, Greenstone's cash flow generating How mine has produced over 1.8Moz of gold between 1941 and 2023. Restart efforts at the Mazowe and Redwing mines, historically producing gold mines currently on care and maintenance, aim to diversify Namib Minerals' production scale upon the mines' recommencement. The Mazowe and Redwing mines have total measured and indicated resource estimates of 291koz at 7.77 g/t Au and 1,188koz at 3.83 g/t Au, respectively, and inferred resource estimates of 915koz at 8.65 g/t Au and 1,328koz at 2.61 g/t Au, respectively, based on technical report summaries for each mine prepared in compliance with Subpart 1300 of Regulation S-K promulgated by the SEC. Greenstone also currently holds interests in 13 battery metals exploration permits in the DRC, including six initial diamond drilling holes that show potential for copper and cobalt. Located in the resource-rich Haut Katanga and Lualaba Provinces, these assets position Namib Minerals to capitalize on the rising global demand for battery metals. The proposed business combination implies a pro forma combined enterprise value of Namib Minerals at approximately $602 million, excluding additional earnout consideration, assuming no further redemptions of HCVI's public shares and $60 million in targeted PIPE funding to be obtained prior to the closing of the transaction. The boards of directors of HCVI, Greenstone, and Namib Minerals have approved the proposed transaction, which is expected to be completed in the first quarter of 2025, subject to, among other things, the approvals by stockholders of HCVI and Greenstone and satisfaction or waiver of the other conditions set forth in the business combination agreement, dated June 17, 2024. At closing of the proposed business combination, Greenstone's existing shareholders will exchange their equity in Greenstone for approximately 74% of the equity of Namib Minerals. Net proceeds from the transaction are expected to enable Namib Minerals to invest further into the How mine, while also contributing to the restart of production at the Mazowe and Redwing mines, each in Zimbabwe, and to help fund the expansion of operations into the DRC.