The merger is off; after funding closes, Skyline's 26% share of Cove Kaz will be valued above $500 million.
Skyline (KAZR) and Cove Kaz terminated their merger agreement. Cove Kaz secured $32M in funding at $8/share, valuing it at ~$2B. Skyline will receive 26% of Cove Kaz shares, valued above $500M, and plans to distribute this value to shareholders. Cove Kaz aims to list on a U.S. exchange in 1H 2027. Skyline will seek new M&A opportunities in the critical minerals sector.

