Update on sale of Kalahari Copper Belt Licences

RNS Number : 3759K

Galileo Resources PLC

01 September 2021

 

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the C ompany's obligations under Article 17 of MAR.

For immediate release

1 September 2021

Galileo Resources Plc

("Galileo" or "the Company")

Update on Sale of Kalahari Copper Belt Licences

to Sandfire Resources Ltd ("Sandfire")

Galileo Resources plc ("Galileo" or the "Company") further to its announcements on 26 January 2021 and 2 August 2012 announces that it has entered into a second variation agreement (the Variation Agreement) with ASX listed Sandfire Resources Limited ( ASX:SFR) ("Sandfire") in relation to its conditional licence sale agreement (the "Licence Sale Agreement") with Sandfire. Unless indicated to the contrary defined terms in Galileo's announcement dated 26 January 2021 in relation to the Licence Sale Agreement have the same meaning.

The Parties have agreed to amend the Licence Sale Agreement to extend the long stop date to 15 September 2021 to facilitate the completion of the processes to obtain Ministerial Consent.

All other conditions under the Licence Sale Agreement, including confirmation that no Competition Approval or ASX and AIM regulatory approvals are required, have been met.

For further information, please contact: Galileo Resources PLC

Colin Bird, Chairman	Tel [phone]
Ed Slowey - Technical Director	Tel [phone]
Beaumont Cornish Limited - Nomad Roland Cornish/James Biddle	Tel [phone]
Novum Securities Limited - Joint Broker Colin Rowbury /Jon Belliss	[phone]
Shard Capital Partners LLP - J oint Broker Damon Heath	Tel [phone]

 

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