Update re Sale of IM Minerals

Pathfinder Minerals Plc

14 June 2023

 

14 June 2023

Pathfinder Minerals Plc

("Pathfinder" or the "Company")

Update re Sale of IM Minerals

Further to the Company's announcements during May 2023 regarding the disposal of IM Minerals Limited, a wholly owned subsidiary of Pathfinder, to Acumen Advisory Group LLC ("AAG") and, with it, the rights to bring a claim against the Government of Mozambique for the expropriation of Mining Concession 4623C, Pathfinder has been advised by AAG that AAG's UK legal counsel ("AAG Counsel") has received approximately £1.1 million into its client account.

These funds are being held to order by AAG Counsel and, together with additional funds which are expected to be received into AAG Counsel's client account in due course, will be used to satisfy the initial consideration payable by AAG to Pathfinder pursuant to the sale and purchase agreement, and therefore facilitate completion of the disposal. A further announcement will be made as and when appropriate.

Enquiries:

Pathfinder Minerals Plc

Peter Taylor, Chief Executive Officer

Tel. [phone]

Strand Hanson Limited (Nominated & Financial Adviser and Broker)

James Spinney / Ritchie Balmer / Abigail Wennington

Tel. [phone]

Vigo Consulting (Investor Relations)

Ben Simons / Kate Kilgallen

Tel. [phone]

Email. [e-mail]

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").

 

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