Business
Result of General Meeting
Result of General Meeting.
About this update from Empire Metals Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 0290F\n Empire Metals Limited\n 11 November 2020\n \n \n \n \n Empire Metals Limited / AIM: EEE / Sector: Natural Resources\n \n \n 11 November 2020\n \n \n \n Empire Metals Limited \n \n \n ('Empire' or the 'Company')\n \n \n \n Result of General Meeting\n \n \n \n \n \n Empire Metals Limited, the AIM-quoted resource exploration and development company, is pleased to announce that the resolution approving the \n sale of the Company's wholly-owned subsidiary GMC Investments Limited ('GMCIL'), to Candelaria Mining Corporation (TSXV: CAND), was duly passed.\n \n \n \n \n \n As announced on 26 October 2020, Empire has concluded a definitive and binding Sale and Purchase Agreement (subject to certain conditions) for the sale of the GMCIL, to Candelaria Mining Corporation, for an all-equity total consideration of 7 million Canadian dollars ('CAD'), with an initial payment of CAD 2 million (the 'Initial Consideration') plus additional payments subject to certain milestones being achieved in Georgia. GMCIL is the owner of a 50% interest in JSC Georgian Copper and Gold which in turn holds the rights to copper-gold projects under a 30-year mining concession in Georgia.\n \n \n \n \n \n The final condition for closing of the transaction is the waiving of a right-of-first-refusal ('ROFR') in favour of Empire's Georgian partners, Caucasian Mining Group (\"CMG\"), which must be exercised within 20 business days from Empire submitting an offer. The final date for this ROFR to be exercised is 23 November 2020.\n \n \n \n \n \n Market Abuse Regulation (MAR) Disclosure\n \n \n Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.\n \n \n \n \n \n **ENDS**\n \n \n \n \n \n For further information please visit \n \n www.empiremetals.co.uk\n \n or contact:\n \n \n \n \n \n \n \n \n Mike Struthers\n \n \n \n \n Empire Metals Ltd\n \n \n \n \n Company\n \n \n \n \n Tel: 020 7907 9327\n \n \n \n \n \n \n Ewan Leggat\n \n \n \n \n S. P. Angel Corporate Finance LLP\n \n \n \n \n Nomad & Broker\n \n \n \n \n Tel: 020 3470 0470\n \n \n \n \n \n \n Adam Cowl\n \n \n \n \n S. P. Angel Corporate Finance LLP\n \n \n \n \n Nomad & Broker...