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Gunsynd to receive shares in Malachite Resources in exchange for stake in Kolosori Nickel
StockMarketWire.com
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Gunsynd said it would receive a stake in Malachite Resources after the latter made an offer to acquire 80% of Kolosori Nickel, in which the company held a minority stake.
The company would receive 682,790 shares and 1,137,984 deferred consideration shares in Malachite Resources in exchange for the company's 230,00 shares in Kolosori.
Malachite Resources agreed to pay $750,000 through the issuance of 9,375,000 upfront shares at an issue price of $0.08 and $1,250,000 through the issuance of 15,625,000 for the 80% of the stake in Kolosori.
The deal was conditional on various factors including shareholder and regulatory approvals.
At 9:49am: (LON:GUN) Gunsynd Plc Ord 0.01p share price was +0.03p at 1.05p
Story provided by StockMarketWire.com
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