METALNRG PLC

M&A Activity • Sep 21, 2018

National Storage Mechanism | Additional information

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MetalNRG Plc - US Cobalt Pty Ltd Sale Approved

PR Newswire

London, September 21

21 September 2018

MetalNRG PLC

(The "Company" or “MetalNRG”)

US COBALT PTY LTD SALE APPROVED

MetalNRG plc (NEX:MNRG), the natural resource investing company quoted on the NEX Exchange Growth Market in London, is pleased to confirm the approval, by the Tyranna Resources Limited (ASX:TYX) shareholders, of the sale agreement (“Agreement”) in respect of its interest in US Cobalt Pty Limited to Tyranna Resources Limited (ASX:TYX).

The announcement released by Tyranna Resources in respect of the transaction can be viewed through the following link:

http://tyrannaresources.com/investor-centre/announcements/

Under the transaction, MetalNRG plc will receive 21,719,457 consideration shares in Tyranna Resources which at the deemed transaction price of A$0.017 equates to a consideration received of A$369,231 or circa £211,327 at current exchange rates.

25% of consideration shares (i.e. 5,429,864 shares) will remain under voluntary escrow for a six month period following the Agreement date.

Rolf Gerritsen, Chief Executive Officer of MetalNRG Plc commented: "I am pleased to confirm Tyranna's shareholders approval in respect of the US Cobalt disposal.

In addition to the bolstering of our balance sheet,  this disposal provides additional working capital at a very important time in the rapid development of the MetalNRG business". 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. Rolf Gerritsen, Chief Executive Officer of MetalNRG, arranged for the release of this announcement. The Directors of the Company accept responsibility for the contents of this announcement.

Contact details:

MetalNRG PLC Rolf Gerritsen (Chief Executive Officer)	+44 (0) 20 7796 9060
NEX Exchange Corporate Adviser PETERHOUSE CAPITAL LIMITED Guy Miller/Mark Anwyl	+44 (0) 20 7469 0930
Corporate Broker SI CAPITAL Nick Emerson	+44 (0) 1483 413500