Business
Elizabeth Hill Silver Project Acquisition Approved
Elizabeth Hill Silver Project Acquisition Approved.
About this update from Alien Metals Ltd
[{"type":"text","content":"\n \n \n \n RNS Number : 1633A\n Alien Metals Limited\n 25 September 2020\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Trading Symbols\n \n \n AIM: UFO\n \n \n FWB: I3A1\n \n \n \n \n \n 25th September 2020\n \n \n \n \n \n \n Alien Metals Ltd \n \n \n \n \n (\"Alien Metals\" or \"the Company\")\n \n \n \n \n \n \n \n \n \n \n \n \n KMG Shareholders approve sale of High-Grade Elizabeth Hill Silver Project to Alien\n \n \n \n \n \n \n Alien \n Metals Ltd (LSE AIM: UFO) (\"Alien Metals\" or \"the Company\"), a minerals exploration and development company, is pleased to advise that further to the announcements of 10 August 2020 and 4 December 2019, the Shareholders of Karratha Metals Group Limited (\"KMG\") have, at an Extraordinary General Meeting held today, unanimously approved the sale of the Elizabeth Hill Silver project to Alien Metals (\"Transaction\"). Accordingly, as per the Acquisition Agreement the Company will be issuing 200,000,000 Common Shares (\"New Ordinary Shares\") and 50,000,000 warrants on the terms outlined in the announcement of 4 December 2019 as consideration for the acquisition. \n The New Ordinary Shares will rank pari passu with the existing ordinary shares in issue and application has been made to the London Stock Exchange for 200,000,000 New Ordinary Shares to be admitted to trading on AIM. Admission of the New Ordinary Shares is expected to become effective at 08.00 on or around 30 September 2020. \n \n \n Following the issue of the New Ordinary Shares, the Company will have 3,021,122,389 ordinary shares of no par value in issue. The Company has no shares in treasury, therefore the figure of 3,021,122,389 should be used by shareholders for the calculations by which they will determine if they are required to notify their interest in, or a change of their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.\n \n \n The Company and KMG will now work to have the Elizabeth Hill Licence transferred to Alien; this is expected to take approximately four weeks and the Company will make a further announcement once this is complete\n \n \n \n \n \n \n Commenting on the results of the shareholder meeting, CEO Bill Brodie Good said:\n \n \"This was the las...