BRIEF-MRG Metals To Buy Mozambique Heavy Mineral Sands Project
Reuters
Published Nov 07, 2018 10:56
BRIEF-MRG Metals To Buy Mozambique Heavy Mineral Sands Project
Nov 7 (Reuters) - MRG Metals Ltd MRQ.AX :
* MRG TO ACQUIRE MOZAMBIQUE HEAVY MINERAL SANDS PROJECT
* VENDORS HAVE AGREED TO AN INITIAL 12-MONTHS ESCROW ON MRG SECURITIES
* EXISTING LEGAL PROCEEDING TO BE DISMISSED BY MUTUAL AGREEMENT
* REACHED AGREEMENT ON REVISED TERMS, TO ACQUIRE SOFALA RESOURCES PTY LTD AND TROPHOSYS PTY LTD
* TO PAY UPFRONT CONSIDERATION TO ACQUIRE TROPHOSYS/SOFALA/SOFALA MOZAMBIQUE, WHICH REDUCED TO 90 MILLION SHARES AND 90 MILLION OPTIONS
* MILESTONE PAYMENTS HAVE REDUCED TO 160 MILLION SHARES AND 320 MILLION SHARES
* AGREED TO PAY SOFALA MOZAMBIQUE TAX LIABILITIES SHOULD THEY BE IMPOSED BY MOZAMBIQUE GOVERNMENT
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Written By: Reuters
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