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VIKING MINES LIMITED — M&A Activity 2017
May 24, 2017
66007_rns_2017-05-24_bb7f6924-a310-4999-b2c1-330e124bdf3c.pdf
M&A Activity
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ASX Announcement
25[th] May 2017
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ASX Code: VKA
Termination of Argo Metals Group Acquisition and Other Projects Update
Acquisition of Thailand Lithium Project Terminated
Viking Mines Limited (ASX: VKA) (“Viking” or the “Company”), advises that it has issued a formal Notice of Termination to Argo Metals Group Limited (“Argo”) and its shareholders that it will not be proceeding with the acquisition of Argo. This acquisition was originally announced on 18 November 2016 however key conditions precedent to the acquisition remain outstanding and Viking no longer considers these as achievable.
Further Viking notes that Argo and its shareholders have issued Viking with their own Notice of Termination in relation to this matter.
Other Projects Update
In relation to Viking’s activity on its other exploration projects, Viking advises it is currently having joint venture negotiations with various parties in relation to both of its Mongolian Coal projects.
The board believes it is in strong position to identify and evaluate other value creating opportunities in the mining sector. Please refer to our announcement on the 25 May 2017 on the Akoase gold project sale.
Jack Gardner Executive Chairman
For further information please contact: www.vikingmines.com [email protected]
Suite 2, Level 1, 47 Havelock Street West Perth WA 6005 T +61 8 6313 5151 F +61 8 9324 2977 W www.vikingmines.com
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Forward Looking Statements: This document may include forward looking statements. Forward looking statements may include, but are not limited to statements concerning Viking Mines Limited’s planned exploration programs and other statements that are not historical facts. When used in this document, words such as “could”, “plan”, “estimate”, “expect”, “intend”, “may”, “potential”, “should”, and similar expressions are forward looking statements. Although Viking Mines Limited believes that its expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward looking statements.
Suite 2, Level 1, 47 Havelock Street West Perth WA 6005 T +61 8 6313 5151 F +61 8 9324 2977 W www.vikingmines.com