Update re proposed placing and off-take agreement

RNS Number : 7252D

Kodal Minerals PLC

28 April 2017

 

 Prior to publication, certain information contained within this announcement was deemed to constitute   inside information for the purposes of Article 7 of EU Regulation 596/2014. Upon publication of this announcement, this information is now considered to be in the public domain.

Kodal Minerals Plc / Index: AIM / Epic: KOD / Sector: Mining

28 April 2017

Kodal Minerals plc ('Kodal Minerals' or 'the Company')

Update re proposed placing and off-take agreement

Kodal Minerals plc, the mineral exploration and development company focussed on West Africa, is pleased to provide an update on the potential further investment and off-take agreement with Suay Chin International Pte Ltd ("Suay Chin"), as announced on 10 March 2017.  As advised in the Company's announcement on 26 April 2017, following completion of the initial £500,00 investment on 15 March 2017, Suay Chin has satisfactorily completed its due diligence within the 30 day period stipulated.  Whilst discussions and documentation are at an advanced stage, the parties have agreed to extend the period for which to conclude the second investment by Suay Chin and an off-take agreement by a further 15 days, as permitted under the terms of their agreement announced on 10 March.  Further announcements will be made in due course as appropriate.

For further information, please visit www.kodalminerals.com or contact the following:

Kodal Minerals plc Bernard Aylward, CEO	Tel: [phone]
Allenby Capital Limited, Nominated Adviser Jeremy Porter/Nick Harriss/Liz Kirchner	Tel: [phone]
SP Angel Corporate Finance LLP, Financial Adviser & Broker John Mackay/Laura Harrison	Tel: [phone]
St Brides Partners Ltd, Financial PR Lottie Brocklehurst/Megan Dennison	Tel: [phone]

 

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