Casa Transaction Update

RNS Number : 4772F

Arc Minerals Limited

21 March 2022

 

21 March 2022

Arc Minerals Ltd 

('Arc' or the 'Company')

Casa Transaction Update

Further to the Company's announcement of 14 February 2022, Arc announces an extension to the US$5m consideration due to Arc Minerals in the form of a secured loan note resulting from the sale of its interest in Casa Mining Limited ("Casa") through to 15 June 2022 to allow additional time for Golden Square Equity Partners to progress an onward sale of Casa.

Shareholders of Arc should note that, until the conditions to closing are satisfied, there is no certainty that the transaction will be completed or that Arc will receive any consideration from the transaction.

Market Abuse Regulation (MAR) Disclosure

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 Company's obligations under Article 17 of MAR.

Contacts

Arc Minerals Ltd Nick von Schirnding (Executive Chairman)	[phone]
SP Angel (Nominated Adviser & Joint Broker) Ewan Leggat / Adam Cowl	[phone]
WH Ireland Ltd (Joint Broker) Harry Ansell / Katy Mitchell	[phone]

 

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