M&A14 May 2020 15:32
Hi Abagnale, HAA founded and is Non Executive Director of Venus Minerals
Ariana has completed its first earn-in to Venus following the expenditure of c. EUR920,000 euros, resulting in an initial shareholding of 9.24%.
-- Venus Minerals (Cyprus) Ltd., which owns the assets, is now a 100% subsidiary of the UK entity, Venus, into which Ariana is making its investment.
-- Ariana is committed to funding a minimum of a further c. EUR180,000 before October 2020, at which time it will in total own c. 12% of Venus.
-- Earn-in to 50% will complete once a total of EUR3 million has been committed to Venus by Ariana, with a further EUR1.9 million required to be spent between October 2020 and October 2022.