Pathfinder Minerals Plc Update re Sale of IM Minerals (7489C)
June 14 2023 - 10:27AM
UK Regulatory
TIDMPFP
RNS Number : 7489C
Pathfinder Minerals Plc
14 June 2023
14 June 2023
Pathfinder Minerals Plc
("Pathfinder" or the "Company")
Update re Sale of IM Minerals
Further to the Company's announcements during May 2023 regarding
the disposal of IM Minerals Limited, a wholly owned subsidiary of
Pathfinder, to Acumen Advisory Group LLC ("AAG") and, with it, the
rights to bring a claim against the Government of Mozambique for
the expropriation of Mining Concession 4623C, Pathfinder has been
advised by AAG that AAG's UK legal counsel ("AAG Counsel") has
received approximately GBP1.1 million into its client account.
These funds are being held to order by AAG Counsel and, together
with additional funds which are expected to be received into AAG
Counsel's client account in due course, will be used to satisfy the
initial consideration payable by AAG to Pathfinder pursuant to the
sale and purchase agreement, and therefore facilitate completion of
the disposal. A further announcement will be made as and when
appropriate.
Enquiries:
Pathfinder Minerals Plc
Peter Taylor, Chief Executive Officer
Tel. +44 (0)20 3143 6748
Strand Hanson Limited (Nominated & Financial Adviser and
Broker)
James Spinney / Ritchie Balmer / Abigail Wennington
Tel. +44 (0)20 7409 3494
Vigo Consulting (Investor Relations)
Ben Simons / Kate Kilgallen
Tel. +44 (0)20 7390 0234
Email. pathfinderminerals@vigoconsulting.com
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
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