Business
Follow-on investment in Libero Copper & Gold Corp
Follow-on investment in Libero Copper & Gold Corp.
About this update from Anglo Asian Mining Plc
[{"type":"text","content":"\n \n \n 20 February 2023\n \n \n \n \n \n \n Anglo Asian Mining plc\n \n \n \n \n Follow-on investment in Libero Copper & Gold Corporation\n \n \n \n \n 19.8 per cent. holding maintained as part of Libero's CAN$2.5m placing\n \n \n \n \n \n \n Anglo Asian Mining plc (\"Anglo Asian\" or the \"Company\"), the AIM listed gold, copper and silver producer primarily focused in Azerbaijan, is pleased to announce it has made a fourth investment in Libero Copper & Gold Corporation (\"Libero\") committing to acquire 3.2 million new shares at CAN 15 cents per share for a total consideration of CAN$480,000 (US$355,000).\n \n \n \n \n \n The investment, which maintains the Company's 19.8 per cent. shareholding in Libero, forms part of Libero's recently launched private placement with gross proceeds of approximately CAN$2.5 million (US$1.9 million) to be used for exploration at the Mocoa and Esperanza copper porphyry projects in Colombia and Argentina respectively. Further information about Libero's properties can be found at:\n \n https://www.liberocopper.com\n \n .\n \n \n \n \n \n Libero is listed on the TSX Venture Exchange (ticker LBC) and owns, or has the right to acquire, several copper exploration properties in North and South America including Mocoa, one of the world's largest undeveloped copper-molybdenum resources. Anglo Asian now holds 21.3 million common shares in Libero. Anglo Asian also holds a total of 12.1 million warrants exercisable at CAN 22 cents and CAN 75 cents per share as set out in the table below.\n \n \n \n \n \n Libero provides Anglo Asian with exposure to significant copper resources, in addition to the Company's fully-owned projects in Azerbaijan including the world-class Garadagh resource. Anglo Asian is currently at the final stages of developing its medium-term growth strategy, culminating in its transition to becoming a copper focused, mid-tier mining company.\n \n \n \n \n \n \n \n Anglo Asian CEO Reza Vaziri, commented:\n \"We are pleased to make this second investment this year, which in total is our fourth investment in Libero. This second share placing this year demonstrates the attractiveness of investing in Libero and their asset portfolio. Libero have an exciting range of significant copper assets across the Americas and an experienced man...