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CONNEXION MOBILITY LTD Capital/Financing Update 2011
64739_rns_2011-12-12_6bea1e30-d714-42df-9eef-3e07f91e9890.pdf
Capital/Financing Update
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ECSIlimited
ABN 68 004 240 313
101 Rathdowne Street Carlton, Victoria, 3053 Australia
African Uranium Transactions
ECSI Limited (ASX:ECS) would like to update the market on the proposed transaction to acquire the African uranium assets as previously announced on 13 April 2011 and 8 July 2011.
The Company is in receipt of draft reports in regard to the assets in South Africa and Namibia.
We are still waiting for the report in regard to the assets in Mauritania. The company expects to receive this report within the next 7 days.
Once we receive the final copy of the reports the Company will be in a position to finalise all necessary documentation including the Notice of Meeting.
Third Party Discussions
ECSI Limited is pleased to announce that it started negotiations with 2 parties in relation to the proposed Uranium assets with either the establishment of a Joint Venture or Investment.
Both parties have significant interest in the Uranium sector and would only strengthen the Company moving forward with the proposed transaction. The Company expects to be in a position by 15 January to conclude negotiations and enter into a formal agreement.
George Karafotias Director
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