• CZR directors unanimously recommend shareholders accept Fenix's offer
• Increased offer consideration of 0.98 Fenix shares per CZR share
• Deadline to receive increased offer is 7:00pm AEDT on 21 March 2025
• No superior proposal has emerged to date

CZR Resources Ltd (ASX: CZR) has announced that the CZR board of directors unanimously recommends that all CZR shareholders accept the off-market takeover offer by Fenix Resources Ltd (ASX: FEX). The offer is for all of the ordinary shares in CZR, with scrip consideration of 0.98 Fenix shares for every CZR share held. This increased offer consideration, valued at $0.301 per CZR share, is only available if Fenix obtains a 75% relevant interest in CZR shares by 7:00pm AEDT on Friday, 21 March 2025. CZR shareholders are encouraged to accept the offer as soon as possible to ensure they receive the increased consideration. The CZR directors have committed to accept the offer in respect of any CZR shares they own or control, in the absence of a superior proposal. As at the date of the announcement, no superior proposal has emerged. The Fenix offer is currently scheduled to close at 7:00pm AEST on 8 April 2025, unless extended.