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Azarga Metals receives conditional approval of TSX Venture Exchange for Unkur acquisition

The company has now called an annual general and special shareholder meeting for February 14 this year..
Azarga Metals receives conditional approval of TSX Venture Exchange for Unkur acquisition
The company has now called an annual general and special shareholder meeting for February 14 this year

Azarga Metals Corp (CVE:AZR) has received the conditional approval of the TSX venture exchange to take 100% control of the Unkur copper-silver project in Russia by exercising a call option to increase its stake from 60%.

The company has now called an annual general and special shareholder meeting for February 14 this year where disinterested shareholders, whose approval is still needed,  will be asked to vote on the acquisition.

The holders of the 40% interest in Unkur  collectively hold just under 39% of the firm's shares and will not vote on this resolution, the firm added.

Azarga currently owns 60% of the Unkur copper-silver project in the Zabaikalsky province in eastern Russia.

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The current inferred resource at Unkur stands at 42mln tonnes at a grade of 0.9% copper equivalent.

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