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DATELINE RESOURCES LIMITED — M&A Activity 2015
May 24, 2015
64793_rns_2015-05-24_cd207859-c4bb-4813-a278-3947014cf3a2.pdf
M&A Activity
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25 May 2015 Company Announcements Office Australian Securities Exchange Limited Exchange Centre 20 Bridge Street Sydney NSW 2000
DATELINE RESOURCES LIMITED – ACQUISITION OF ISSUED SHARES OF GOLDEN PHOENIX RESOURCES LIMITED
The Board of Dateline Resources Limited (DTR) is pleased to announce that DTR has today executed a share sale agreement (Agreement) with the major shareholders of Golden Phoenix Resources Limited (GPR) for DTR to acquire all of the issued shares of GPR from its current shareholders.
About Golden Phoenix Resources
GPR is an unlisted public mineral exploration company that has three granted exploration licenses (EL’s) that comprise the Augustus sedimentary copper project located in the Gascoyne region, Western Australia. The ELs cover three separate copper geochemical anomalies defined by the Geological Survey of Western Australia (GSWA) geochemical data within the Proterozoic Bangemall Basin. The primary target is a sediment hosted copper deposit. The analog for this mineralisation is the ABRA deposit where mineralisation is blind at surface.
These EL’s cover the largest copper anomaly within the GSWA public domain geochemical dataset from modelling.
Terms of the acquisition
The terms of the acquisition of GPR include the acquisition by DTR of 100% of GPR from its current shareholders for a total consideration of $1,250,000, to be paid by DTR by the issue of approximately 25 million fully paid ordinary shares in DTR at an issue price of $0.05 per share.
The acquisition of Golden Phoenix is subject to numerous conditions precedent including (but not limited to):
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(a) DTR shareholder approval;
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(b) approval of the acquisition by at least 90% of the GPR's current shareholders; and
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(c) all regulatory approvals required for the acquisition being obtained.
The Board of DTR expects that completion of the acquisition will occur around late July 2015, however this will be subject to DTR receiving all necessary regulatory approvals prior to that date.
Dateline Resources Limited (ACN 152 582 217) Level 4, 20 Loftus Street, Sydney, NSW 2000
www.datelineresources.com.au [email protected]
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Shareholders should note that a director of DTR, Mr Greg Hall, is also a director and substantial shareholder of GPR. Details of the final arrangements for the acquisition (including the relationship between Mr. Greg Hall and GPR) will be forthcoming in a Notice of Extraordinary General Meeting to be provided to shareholders of DTR in due course.
Yours sincerely
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Stephen Baghdadi Executive Director
Dateline Resources Limited (ACN 152 582 217) Level 4, 20 Loftus Street, Sydney, NSW 2000