Business
Acquisition
Acquisition.
About this update from Aterian Plc
[{"type":"text","content":"\n \nRNS Number : 3685W Equatorial Mining & Exploration PLC 08 February 2017 \n\nEquatorial Mining & Exploration Plc (\"EME\" or the \"Company\")\n \nAcquisition Option Agreement\n \n \nThe Directors of EME are pleased to announce that they have signed a conditional option agreement with SPV Corporation Pty Limited (\"SPV\") (the \"Option Agreement\"), to acquire a Mexican mining and exploration project with substantial interests in copper, gold and molybdenum. This acquisition will be part of a fundraising of at least £2 million and a move by the enlarged company from the NEX Exchange to the London Stock Exchange (the \"Transaction\"). The Company also wishes to announce its intention to strengthen the Board and to arrange, as part of this Transaction, a consolidation of the Company's shares.\n \nProposed General Meeting\n \nSubject to the continuation of the above mention Transaction, the Company plans to call a General Meeting of its shareholders and will circulate the required notice in due time.\n \nThe Option Agreement\n \nThe Option is valid for 90 days from today and will allow the Company to complete its due diligence into the company and assets being acquired.\n \nIf the Transaction proceeds, the acquisition consideration is expected to be £10.4m which will be satisfied by the issue of new shares in the Company, following the proposed General Meeting as mentioned above. \n \nInformation on SPV Corporation Pty Limited\n \nSPV has a conditional agreement to acquire 100% of Mexican company; VV Mining S de R.L. de A.C (VVM) which has secured an option to farm-in to a project known as Tango. The Tango polymetallic project consists of four tenements along the western Edge of the Sierra Madre Occidental plateau which overlaps a significant porphyry system centred in Southern Sinaloa State, Mexica. The Tango polymetallic project is owned by Minera Camargo S.S de C.V and is prospective for poly-metallic deposits of gold, silver and molybdenum with over 100 historic workings in the vicinity of Tango together with significant historic exploration.\n \nTango Polymetallic Project highlights\n \n· 3,954 hectares in four contiguous concessions\n· Drilling permit applications approved, environment...