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On 28 September 2026, Galileo Resources Plc completed the sale of its subsidiary, Virgo Business Solutions (Pty) Ltd, to Metal Capital Exploration Limited, a wholly owned subsidiary of Sandfire Resources Limited. The transaction, relating to 2 Kalahari Copper Belt Licences, was completed for US$3 million under a share purchase agreement entered into on 15 June 2026.
| Date | 28 Sept 2026 |
| Time | 07:00:12 |
| Category | Miscellaneous |
| ID | 5310W |
28 September 2026
Galileo Resources Plc
(“Galileo” or the “Company”)
Completion of Sale of 2 Kalahari Copper Belt Licences for US$3 million
to Sandfire Resources Limited group
Galileo Resources plc ("Galileo“ or the "Company") is pleased to announce that, further to its announcement of 18 September 2026, completion has occurred under the share purchase agreement entered into on 15 June 2026 for the sale of its subsidiary, Virgo Business Solutions (Pty) Ltd, to Metal Capital Exploration Limited a wholly owned subsidiary of ASX-listed Sandfire Resources Limited (“Sandfire”), with Sandfire acting as purchaser guarantor. Galileo intends to use its proceeds from the transaction to advance its current portfolio of projects and provide the Company with additional working capital for ongoing corporate costs and to continue with its new business activities.
You can also follow Galileo on Twitter: GalileoResource
For further information, please contact: Galileo Resources PLC
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Colin Bird, Chairman |
Tel +44 (0) 20 7581 4477 |
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Beaumont Cornish Limited - Nomad Roland Cornish/James Biddle |
Tel +44 (0) 20 7628 3396 |
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AlbR Capital Limited– Joint Broker Colin Rowbury /Jon Belliss |
+44 (0) 20 7 469 0930 |
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Shard Capital Partners LLP – Joint Broker Damon Heath |
Tel +44 (0) 20 7186 9952 |
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 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018 ("UK MAR").
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
Distribution
This announcement has been notified via a Regulatory Information Service and it is not authorised for distribution into North America or any other jurisdiction where to do so would constitute a violation of the relevant laws or regulations of that jurisdiction.