14 Jun 2017 14:30
14th June 2017
Pembridge Resources Plc
("Pembridge" or "the Company")
Signing of the Share Purchase Agreement
Pembridge Resources plc (LON: PERE), the AIM listed natural resource exploration and development company, today announces that a Share Purchase Agreement (SPA) has been signed between Pembridge (the Seller) and Thor Mining PLC ("Thor") (the Buyer) for the sale of the US based Lithium assets, currently held by the Company.
Further to the RNS on 8 February 2017, Pembridge has sold its shareholding for a consideration of $75,000 payable in cash. The proceeds will be used to fund normal working capital.
David Linsley, CEO, Stated:
"As with the recently sold Botswana assets, the early stage exploration Lithium assets we inherited from previous management are not suitable under the Company's strategy going forward.
"While we complete the restructuring of Pembridge, working towards joining the main board of the LSE, we will continue to develop the exciting pipeline of projects our team has sourced."
Pembridge Resources PLC David Linsley, Chief Executive Officer
| T: +44 (0)203 778 0655 |
SPARK Advisory Partners - Nominated Adviser Sean Wyndham-Quin Neil Baldwin
| T: +44 (0) 2033 683 555
www.sparkadvisorypartners.com |
Shard Capital - Joint Broker Damon Heath
SI Capital Limited - Joint Broker Nick Emerson Andy Thacker
| T: +44 (0) 20 7186 9900
T: +44 (0) 1483 413 500 |
Beaufort Securities Limited - Joint BrokerZoe Alexander | T: +44 (0) 207 382 8300 |
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Blytheweigh - Financial PR Tim Blythe, Camilla Horsfall, Nick Elwes
| T: +44 (0) 207 138 3204
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