Closing - Sale of Royalty Interests

RNS Number : 1482C

Tertiary Minerals PLC

07 October 2022

 

  7 October 2022

Tertiary Minerals plc ("Tertiary" or "the Company")

CLOSING - SALE OF ROYALTY INTERESTS

Further to its announcement of 8 August 2022, Tertiary Minerals plc is pleased to announce that it has now successfully closed the sale of its royalty interests in the Kaaresselkä and Kiekerömaa properties in Finland to Aurion Resources Ltd ("Aurion").

Definitive sale agreements have been signed and the transaction is now closed.

Aurion assigned all of its rights in the sale agreement to B2Fingold Oy ("B2 Fingold", a Finnish company in which Aurion holds an interest) in so far as they relate to the Kiekerömaa Property and consequently separate agreements have been executed with Aurion in respect of the Kaaresselkä royalty interest and with B2Fingold Oy in respect of the Kiekerömaa royalty interest.

Notwithstanding the separate agreements, the aggregate consideration from Aurion and B2 Fingold, now received by the  Company, is the same as that advised in the Company's  announcement of 8 August 2022, being:

· CAD$200,000, paid in cash, and

· The issue to Tertiary of 83,333 common shares in Aurion Resources Ltd (the "Consideration Shares").

The Consideration Shares are subject to a hold period and cannot be sold before 25 December 2022, being four months and one day after the date of issue.

For more information please contact:

Tertiary Minerals plc:
Patrick Cheetham, Executive Chairman		[phone]
SP Angel Corporate Finance LLP, Nominated Adviser and Broker
Richard Morrison		[phone]
Caroline Rowe
Peterhouse Capital Limited, Joint Broker
Lucy Williams	+ 44 (0) 207 469 0930
Duncan Vasey

Market Abuse Regulation (MAR) Disclosure

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 which forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

 

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