Bacanora Lithium PLC - Completion of Disposal
Bacanora Lithium plc
("Bacanora" or the "Company")
Sale of interest in Deutsche Lithium to Erris Resources Plc ("Erris Resources")
Bacanora Lithium plc (AIM: BCN), a lithium exploration and development company, notes the announcement by Erris Resources confirming that, at its general meeting held earlier today, all resolutions were duly passed.
Accordingly, pursuant to the terms of the Sale and Purchase Agreement announced on
Following completion, Bacanora will hold 90,619,170 ordinary shares in Erris Resources, which will represent 44.3% of the enlarged ordinary share capital of Erris Resources.
For further information please visit www.bacanoralithium.com or contact:
Bacanora Lithium plc
Cairn Financial Advisers LLP, Nomad
+44 (0) 20 7213 0880
Citigroup Global Markets, Joint Broker
+44 (0) 20 7986 4000
Canaccord Genuity, Joint Broker
+44 (0) 20 7523 8000
Tavistock, Financial PR Adviser
+44 (0) 20 7920 3150
+44 (0) 77 8855 4035
Notes to editors
Bacanora Lithium Plc is an AIM-listed (ticker 'BCN') lithium development and exploration company. The Company is focused on building, in collaboration with its major shareholder and offtake partner, Ganfeng Lithium (the world's largest lithium metals producer), a 35,000 tonne per annum open pit battery grade lithium carbonate operation at its flagship asset, the Sonora Lithium Project in
Sonora Lithium Ltd ("SLL") is the operational holding company for the Sonora Lithium Project and owns 100% of the
On completion of its agreement with Erris Resources Plc, the Company will own 44.3% of Erris, which in turn will have a 50% interest in the Zinnwald Lithium Project and the Falkenhain and Altenberg Licences in southern Saxony,
Cautionary Statement Regarding Forward-Looking Information
Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Although we believe that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. We cannot guarantee future results, performance or achievements. Consequently, there is no representation that the actual results achieved will be the same, in whole or in part, as those set out in the forward-looking information.
Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: commodity price volatility; general economic conditions in the
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
The contents of this announcement have been prepared by and are the sole responsibility of Bacanora.
Quick facts: Bacanora Lithium Ltd
Market Cap: -
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...FOR OUR FULL DISCLAIMER CLICK HERE