Skyline Builders Group Holding Ltd

Skyline Builders Group Holding Limited entered into a convertible loan agreement with Cove Kaz Capital Group LLC, superseding a prior agreement. The new facility provides up to $45 million, with an initial advance of $23.1 million already made and $21.9 million remaining undrawn. The principal will be repaid with a 10% per annum simple interest rate. Additionally, an amendment to the transaction agreement clarifies that the Company must have no less than $50 million in cash available at closing, adjusted for any loans made to a Kaz Company.

Skyline Builders Group Holding Limited announced a change in its Nasdaq ticker symbol from "SKBL" to "KAZR", effective June 17, 2026. This change is a step towards its pending business combination with Cove Kaz Capital Group LLC, a U.S.-backed critical minerals development company. Upon the merger's completion, expected by year-end 2026, the combined entity will operate as "Kaz Resources Inc." and focus on supplying critical minerals to US customers. Existing shareholders are not required to take any action regarding the ticker symbol change.

Skyline Builders Group Holding Limited entered into an assignment and assumption agreement on May 14, 2026, to sell its full 13.09% LLC membership interest in Reemag LLC. The company also assigned certain future rights and obligations to acquire additional interests in Reemag under a previously amended subscription agreement. In consideration for this divestment, Skyline Builders will receive a cash payment of $3,000,000.

Skyline Builders Group Holding Limited (SKBL) and Cove Kaz Capital Group LLC announced a definitive Transaction Agreement to effect a business combination. The combined entity, to be named Kaz Resources Inc., will trade on Nasdaq under "KAZR" and aims to supply critical minerals to the United States. This merger includes Cove Kaz's acquisition of a 70% stake in Severniy Katpar LLP, which holds the world's largest known undeveloped tungsten resource, estimated at 1.4 million tonnes of tungsten trioxide. The projects are projected to produce 12,000 mtpa of tungsten, with significant financial backing from EXIM Bank ($900 million) and DFC ($700 million) towards an estimated $1.1 billion development cost. The transaction is anticipated to close in late 2026 or early 2027.

Skyline Builders Group Holding Limited (SKBL) entered into a Transaction Agreement to merge with SKBL Merger Sub Inc., a wholly-owned subsidiary of Cove Kaz Capital Group LLC. Upon closing, Cove Kaz will convert into a Delaware corporation named "Kaz Resources Inc." (PubCo), and SKBL shareholders will convert their shares into PubCo Class A Common Stock. This transaction will transform SKBL into a critical minerals company, focusing on tungsten and rare earth elements in Kazakhstan, through the acquisition of Kaz Critical Minerals LLP's assets by PubCo. SKBL also provided a $23.1 million loan to Cove Kaz and amended an executive employment agreement.