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AVIRA RESOURCES LTD — M&A Activity 2017
Jan 18, 2017
64473_rns_2017-01-18_651bbc99-936f-4c0e-a395-9a7361490422.pdf
M&A Activity
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PALADIN ENERGY LTD
ACN 061 681 098
Ref: 420545
19 January 2017
ASX Market Announcements Australian Securities Exchange 20 Bridge Street SYDNEY NSW 2000
By Electronic Lodgement
Dear Sir/Madam
MGT SHAREHOLDER APPROVAL TO ACQUIRE 30% MANYINGEE
Paladin Energy Ltd ( Paladin or the Company ) (ASX:PDN / TSX:PDN) is pleased to advise MGT Resources Limited ( MGT ) has received shareholder approval to acquire 30% of the Manyingee Uranium Project ( Manyingee ) for US$10 million cash. The approval represents another positive milestone towards closing the transaction.
Paladin first announced the signing of a binding term sheet with MGT 21 July 2016, followed by the signing of a sale of tenement agreement 16 November 2016. The agreement was for MGT to acquire an initial interest of 30% in Manyingee, with an option to acquire an additional 45% of Manyingee for US$20 million cash.
The sale remains subject to certain conditions with close expected late March early April 2017.
Yours faithfully Paladin Energy Ltd
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ALEXANDER MOLYNEUX CEO
Level 4, 502 Hay Street, Subiaco, Western Australia 6008 Postal: PO Box 201, Subiaco, Western Australia 6904 Tel: +61 (8) 9381 4366 Fax: +61 (8) 9381 4978 Email: [email protected] Website: www.paladinenergy.com.au