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SolGold PLC - Jiangxi Copper Investment Conditions Satisfied
BISHOPSGATE, LONDON / ACCESS Newswire / March 24, 2025 / SolGold plc (LSE:SOLG)(TSX:SOLG) is pleased to announce that further to the announcement on 12 March 2025, the conditions for the transaction for SolGold Canada Inc. to sell 157,141,000 ordinary ...
About this update from SolGold PLC
[{"type":"text","content":"BISHOPSGATE, LONDON / ACCESS Newswire / March 24, 2025 / SolGold plc (LSE:SOLG)(TSX:SOLG) is pleased to announce that further to the announcement on 12 March 2025, the conditions for the transaction for SolGold Canada Inc. to sell 157,141,000 ordinary shares of SolGold ("Owned Shares") at a price of US$0.115 per Owned Share, raising gross proceeds of US$18,071,215 (the "Investment"), to Jiangxi Copper (Hong Kong) Investment Company Limited ("JCCHK"), a wholly-owned subsidiary of Jiangxi Copper Company Limited ("JCC", andtogether with JCCHK, "Jiangxi") have been satisfied. It is expected that settlement of the transaction will occur on 26 March 2025.","length":707,"tagName":"p"},{"type":"text","content":"The price being paid by JCCHK represents a premium of approximately 45% to the closing middle-market share price on 11 March 2025. Following the settlement of the Investment, SolGold Canada Inc. will no longer hold any ordinary shares in SolGold.","length":246,"tagName":"p"},{"type":"text","content":"Chief Executive Officer, Dan Vujcic commented:","length":46,"tagName":"p"},{"type":"text","content":""I am pleased that conditions for the JCC transaction have been satisfied expeditiously. The investment strengthens our balance sheet and allows us to assess interesting opportunities to bring forward production at Cascabel and formulate a plan for our vast and valuable exploration portfolio. Technical input from JCC, at their cost, will also contribute significantly in terms of savings and timing of assessments of Cascabel. We are focused on unlocking value for our shareholders and for Ecuador"","length":510,"tagName":"p"},{"type":"text","content":"CONTACTS","length":8,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"style":"height:42.3pt;padding:0cm;vertical-align:top;width:289.2pt;","val":[{"type":"text","content":"Dan Vujcic","length":10,"tagName":"p","attribs":{}},{"type":"text","content":"Chief Executive Officer","length":23,"tagName":"p","attribs":{}}]},{"style":"height:42.3pt;padding:0cm;vertical-align:top;width:192.8pt;","val":[{"type":"text","content":"Tel: +44 (0) 20 3807 6996","length":25,"tagName":"p","attribs":{}}]}]},{"val":[{"style":"height:42.3pt;padding:0cm;vertical-align:top;width:289.2pt;","val":[{"type":"text","content":"Tavistock (Media...