RNS OUT25 Oct 2024 07:17
The Company's South African based lawyers are finalising the formal share sale and purchase agreement ('Agreement') for the acquisition of 100% of the Henkries South Uranium Project.
The documentation process remains on track for completion by the end of October 2024, with the Company and its Advisors to then seek receipt of all applicable regulatory approvals for the acquisition.
The Company also confirms that the 25 million shares, initially scheduled to be issued upon the signing of the share purchase agreement, will now be issued on or around 1 November 2024. These shares will be issued at a price of 1.25 pence ('p') per share and will be subject to a six-month lock-in agreement.
The balance of shares, due to Eagle Uranium shareholders under the Agreement, will be subject to the completion of certain regulatory milestones including the transfer of the mineral rights. These shares will also be issued at 1.25p per share and will be subject to a six-month lock-in period, effective from the date of share issuance.