Future Metals NL Acquisition of Osprey (8324T)
17 11월 2023 - 5:35PM
UK Regulatory
TIDMFME
RNS Number : 8324T
Future Metals NL
17 November 2023
Future Metals NL
ACQUISITION OF OSPREY
Future Metals NL (" Future Metals " or the " Company ", ASX |
AIM: FME) is pleased to announce, further to its announcements of 5
October and 6 November 2023, that it has exercised its option to
acquire 100% of Osprey Minerals Pty Ltd (" Osprey ").
Osprey shareholders will receive the upfront consideration of,
in aggregate, 18,382,352 new ordinary shares of no par value in the
capital of the Company (" Ordinary Shares ") (the " Consideration
Shares ") within the next 5 business days. The Consideration Shares
are subject to a 6-month escrow period.
The Company shall pay to Osprey shareholders deferred
consideration of A$325,000 in new Ordinary Shares or cash (at the
Company's sole election) six months from the date of exercise. Once
the Company drills 2,000m or more on the Osprey tenements, an
additional A$325,000 in new Ordinary Shares or cash (at the
Company's sole election) will be payable to Osprey shareholders. In
the event the Company elects to pay the deferred consideration in
new Ordinary Shares, it will be priced at the 5-day VWAP at the
time of the milestone being met.
Future Metals' Managing Director, Jardee Kininmonth, commented
:
"We are pleased to have closed out this transaction with Osprey
and welcome our new Future Metals' shareholders. The tenements
acquired as part of the transaction are incredibly complementary to
our activities at Panton and in the East Kimberley. The Eileen Bore
prospect is an exciting, advanced exploration target amongst a
portfolio of compelling targets throughout the acquired tenement
package, and we look forward to updating the market shortly on our
forward plans for the projects."
Admission to trading on AIM and total voting rights
Application will be made to the London Stock Exchange plc for
the admission to trading on AIM of the Consideration Shares, which
is expected to take effect and dealings commence at 8.00 a.m. (GMT)
on or around 22 November 2023 (" Admission ").
The number of Ordinary Shares in issue, and the total voting
rights in the Company, on Admission, will be 440,253,055. This
figure may be used by shareholders as the denominator for the
calculations by which they determine whether they are required to
notify their interest in, or a change of their interest in, the
Company under the provisions of the Company's constitution.
This announcement has been approved for release by the Board of
Future Metals NL.
For further information, please contact:
Future Metals NL +61 8 9480 0414
Jardee Kininmonth info@future-metals.com.au
Strand Hanson Limited (Nominated
Adviser) +44 (0) 207 409 3494
James Harris/James Bellman
Panmure Gordon (UK) Limited (UK
Broker)
John Prior/Hugh Rich/Rauf Munir +44 (0)207 886 2500
FlowComms (UK IR/PR) +44 (0) 789 167 7441
Sasha Sethi
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END
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November 17, 2023 03:35 ET (08:35 GMT)
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