Business
Replacement - Completion of Acquisition & Placing
Replacement - Completion of Acquisition & Placing.
About this update from 80 Mile Plc
[{"type":"text","content":"\n \nRNS Number : 5143R FinnAust Mining PLC 09 March 2016 \n\n9 March 2016\n \nFinnAust Mining plc ('FinnAust' or the 'Company')\n \nReplacement - Completion of Acquisition of Bluejay Mining Limited and Placing\n \nThis announcement replaces the \"Completion of Acquisition of Bluejay Mining Limited and Placing\" announcement released on 8 March 2016 at 7.00 a.m. with RNS Number 3249R.\n \nThe paragraph and table under the heading \"Directors' shareholdings and significant shareholders\" contained certain incorrect figures. These figures have been corrected. In addition, the date of expiry of the Option has been corrected to 8 March 2020. The full amended text is shown below. All other details remain unchanged.\n \n \nFinnAust Mining plc / EPIC: FAM / Market: AIM / Sector: Mining\n8 March 2016\nFinnAust Mining plc ('FinnAust' or the 'Company')\n \nCompletion of Acquisition of Bluejay Mining Limited and Placing\n \nFinnAust Mining plc, the AIM listed exploration company with projects in Greenland, Finland and Austria, announces that it has completed the acquisition of a 60% stake in Bluejay Mining Limited ('Bluejay') following receipt of change of control consent from the Greenlandic authorities. The associated Placing, announced on 9 December 2015, has also now completed. Accordingly, FinnAust now holds a majority interest in the 126sq km high grade Pituffik titanium project in Greenland, which has been proven to host an unusually pure titanium occurrence with three highly prospective target areas identified.\n \nDefined terms used in this announcement shall have the same meaning as those terms defined and used in the circular of the Company dated 8 December 2015 and is available at www.finnaust.com.\n \nBluejay Acquisition\nFollowing the consent of the Greenlandic authorities to the change of control of the Mineral Exploration Permit held by Bluejay, the Bluejay Acquisition and the Placing have become unconditional. Accordingly, the Initial Consideration Shares, being 123,900,000 new ordinary shares of 0.01p each, have been issued to the Bluejay Vendors and the 10,000,000 Placing Shares have been issued and allotted by the Company. \n \nThe deferred consideration of 40,755,885 new ordinary shares of 0.01p each (\"Deferred Consideration Shares\") will ...