RNS - VIRGO TRANSACTION WITH ARC MINERALS COMPLETES10 Nov 2021 22:27
VIRGO TRANSACTION WITH ARC MINERALS
COMPLETES
On 4 November 2021, Kopore Metals Limited (“Kopore” or “Company”)announced it was proceeding to completion of the sale of 75% of the issued capital in its wholly owned subsidiary, Alvis-Crest (Proprietary) Limited, to Arc Minerals Limited (“Arc”) (the “Transaction”). The Transaction was first announced on 25 March 2021.
Kopore is pleased to advise that completion has now occurred and that 35,488,259 fully paid ordinary shares in Arc, based upon a 10-day VWAP of 3.3814 pence per share for a total consideration value of £1.2 million (approx. A$2.2 million) have been issued to Kopore (“Consideration Shares”). The Consideration Shares will be subject to customary orderly sale provisions.
Authorised by the Board of Kopore Metals Limited.