Aurasian acquires Moroccan Minerals

May 25, 2016


Aurasian Minerals has now received acceptances from all of the shareholders of Moroccan Minerals in relation to the offer announced on 18 April.

In line with the terms of the heads of agreement announced on 1 December 2015, Aurasian will acquire the entire issued share capital of MML on the following basis: 4.22 ordinary shares in the capital of Aurasian for each MML share held.

There are currently 17,974,054 MML Shares in issue and accordingly, the Company has applied for 75,850,508 ordinary shares in the capital of the Company to be admitted to trading on AIM. Admission is expected to occur and dealing to commence in the Consideration Shares on 31 May.

In addition, Aurasian will issue warrants to certain MML Shareholders in lieu of options over MML Shares that have been granted to them previously.

Aurasian also announced that it has executed an option agreement with Rockstone Group under which Aurasian can earn up to an 80% interest in the Gokcinica project licences in Southern Serbia.

Source: III