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NEOMETALS LTD — Capital/Financing Update 2017
Apr 25, 2017
65430_rns_2017-04-25_51d6be9d-fd9f-49e0-b107-2020afa193b2.pdf
Capital/Financing Update
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26 April 2017
Level 1, 672 Murray Street West Perth WA 6005 Locked Bag 8 West Perth WA 6872 t. +61 8 9322 1182 f. +61 8 9321 0556 [email protected] neometals.com.au Neometals Ltd ABN 89 099 116 631
Sale of interest in Mt Marion Lithium Project
Neometals Ltd (ASX: NMT) (“Neometals”) announced on 7[th] April 2017 that it had issued an offer by way of notice of sale to its joint venture partners of all its remaining 13.8% interest in Reed Industrial Minerals Pty Ltd (“RIM”), the holder of the Mt Marion Lithium Project, for a sale price of US$96,001,080.
Neometals now announces that neither of its joint ventures in RIM have accepted that offer within the offer period in the terms of the pre‐emptive rights procedures under the Shareholders Agreement in respect of RIM.
As neither joint venturer has exercised their rights, Neometals is now entitled within the next sixty days to dispose of its equity interest in RIM to a third party on terms no less favourable to Neometals than those offered to its joint venture partners.
Neometals is now in discussions with interested third parties and will advise the market of any material developments.
ENDS
For further information, please contact:
Chris Reed
Managing Director Neometals Ltd T: +61 8 9322 1182 E: [email protected]
Media
Richard Glass / Michael Weir Citadel‐MAGNUS T: +61 8 6160 4900
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