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Chaarat Gold Holdings Ltd - a gold mining company with an operating mine in Armenia, and assets in the Kyrgyz Republic - Signs investment agreement and strategic co-operation agreement with Xiwang International Co Ltd in respect of a potential equity investment of $250 million. Talks were initially announced on May 17. As previously disclosed, the investment will support the development of Chaarat’s organic pipeline and facilitate external growth through value-added acquisitions. Investment will be in the form of a new issue of shares in Chaarat at a price of £0.20 per share, resulting in Xiwang holding 60% of the shares in the company. Notes completion of the deal is contingent on shareholder approval, due diligence, and corporate and regulatory approvals. Aims to complete deal by July 30. Current stock price: 11.10 pence 12-month change: down 28% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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