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Pathfinder Minerals Plc received notification that Acumen Advisory Group LLC ("AAG") anticipates completing the disposal of its wholly owned subsidiary, IM Minerals Limited, and paying the £2 million due later this week. Shareholders had approved this transaction, which includes rights to a claim against the Government of Mozambique for the expropriation of Mining Concession 4623C, on 11 May 2023.
| Date | 22 May 2023 |
| Time | 07:00:04 |
| Category | Corporate updates |
| ID | 1106A |
22 May 2023
Pathfinder Minerals Plc
("Pathfinder" or the "Company")
Update re Sale of IM Minerals
Further to the announcement on 11 May 2023 regarding the approval by shareholders of the disposal of IM Minerals Limited, a wholly owned subsidiary of Pathfinder, to Acumen Advisory Group LLC ("AAG") (the "Disposal") and, with it, the rights to bring a claim against the Government of Mozambique for the expropriation of Mining Concession 4623C (the "Claim"), the Company has been notified by solicitors acting for AAG that AAG should be ready to complete, and therefore pay the £2 million due on completion, later this week. A further announcement will be made on completion and receipt of funds.
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. [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").