Business
$AUD 1m Share Consideration Received from Ricca
$AUD 1m Share Consideration Received from Ricca.
About this update from Firering Strategic Minerals Plc
[{"type":"text","content":"\n\nFirering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining\n \n14 March 2024\nFirering Strategic Minerals Plc\n (\"Firering\" or the \"Company\")\n$AUD 1m Share Consideration Received from Ricca\nFirering, an exploration company focusing on critical minerals, is pleased to announce that it has received 20,000,000 shares (\"Ricca Shares\") in Ricca Resources Limited (\"Ricca\") at an issue price of AUD$0.05 with a value of AUD$1.0m.\nThis share issue is part of the initial consideration following the $US18.6 million binding and definitive earn in agreement (the \"Agreement\") announced on 2 November 2022 to advance the Atex Lithium-Tantalum Project and the adjacent Alliance exploration licence (once granted) in Côte d'Ivoire.\nThe Ricca Shares have been issued pursuant to the Agreement following Ricca not having completed an IPO on the ASX by 31 December 2023. The Ricca Shares were issued at a Ricca pre money valuation of c.AUD$7.96 million, representing its value at its most recent funding round in May 2023. Following the settlement Firering holds 20,00,000 shares in Ricca which represents c.11.2%% of Ricca's issued share capital.\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n*** ENDS ***\n \nFor further information and updates on Firering's exploration programme, visit www.fireringplc.com or contact the following:\n \n\n\n\n\nFirering Strategic Minerals\nYuval Cohen\nVassilios Carellas\n \n\n\nTel: +44 20 7236 1177\n\n\n\n\nSPARK Advisory Partners Limited\nNominated Adviser\nNeil Baldwin / James Keeshan / Adam Dawes\n\n\nTel: +44 20 3368 3550\n \n\n\n\n\n \nOptiva Securities Limited\nJoint Broker\nChristian Dennis / Daniel Ingram\n\n\n \nTel: +44 20 3137 1903\n\n\n\n\n \nShard Capital Partners LLP\nJoint Broker\nDamon Heath/ Erik Woolgar\n \nSt Brides Partners Limited\nFinancial PR\nAna Ribeiro / Susie Geliher / Isabelle Morris\n\n\n \nTel : +44 207 186 9950\n \n \nT: +44 20 7236 1177\nE: [email protected]\n\n\n\n\n&n...