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Pathfinder Minerals Plc announced on 22 February 2023 that it mutually agreed with Acumen Advisory Group LLC to extend the deadline for entering into a conditional binding sale and purchase agreement (SPA) concerning Acumen's acquisition of IM Minerals Limited. The deadline for the SPA, which involves Pathfinder's wholly owned subsidiary, was moved from 21 February 2023 to 21 March 2023. Completion of the SPA is conditional upon shareholder approval, as required by AIM Rule 15 for the disposal of IMM.
| Date | 22 Feb 2023 |
| Time | 07:00:06 |
| Category | Miscellaneous |
| ID | 6301Q |
22 February 2023
Pathfinder Minerals Plc
("Pathfinder" or the "Company")
Update re Sale of IM Minerals
Further to Company's announcement on 1 February 2023 regarding the exercise of the option by Acumen Advisory Group LLC to acquire IM Minerals Limited ("IMM"), a wholly owned subsidiary of Pathfinder, the Company announces that the date by which the parties are required to enter into a conditional binding sale and purchase agreement (the "SPA") has been extended by mutual agreement from 21 February 2023 until 21 March 2023.
As previously announced, completion of the SPA will be conditional upon, inter alia, shareholder approval in line with AIM Rule 15 for the disposal of IMM. Pathfinder is considering bringing forward the General Meeting such that the transaction can complete with the minimum of disruption to the timeline. The Company will provide a further update 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 / Rob Patrick
Tel. +44 (0)20 7409 3494
Vigo Consulting (Investor Relations)
Ben Simons / Kate Kilgallen
Tel. +44 (0)20 7390 0234
Email. [email protected]
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").