In a statement on Friday, Tomahawk announced the offer had been freed from all conditions and was subsequently moving to compulsorily acquire all of the outstanding shares and options in K2 for which had not received acceptances.
K2 managing director Peter Moore will become chief executive of the merged entity, while K2 director Sam Gazal has been appointed chairman.
In addition, K2 company director Terence Flitcroft will continue on with the new company in that position.
The bid, in which Tomahawk offered six of its shares and one option for every 10 shares and two options in K2, had been extended to close on June 6.
Under the merger, Tomahawk has offered a total of 51.6 million shares and about 28 million options to K2 investors.
K2 listed on the Australian Securities Exchange in March after raising about $12 million to invest in oil and gas drilling projects in Texas, Michigan, Louisiana, Illinois and Alabama.
