Stratmin Global Resources PLC Update re Bass shareholding and proposed RTO (7363Y)

TIDMSTGR

RNS Number : 7363Y

Stratmin Global Resources PLC

07 March 2017

7 March 2017

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

StratMin Global Resources Plc

("StratMin" or the "Company")

Receipt of Monies from sale of Bass Metals Ltd shareholding and Update on Proposed Reverse Takeover

Receipt of Bass share sale proceeds and timing confirmation for second payment from Bass Metals Ltd

Further to the announcement on 15 December 2016 regarding the early cash settlement of the outstanding payments from Bass Metals Ltd ("Bass") to StratMin and the facilitation of the sale of the Company's 70 million shareholding in Bass, (the "Agreement"), the Company can confirm that it has received AUS$884,000 (circa GBP540,000) into its UK bank account from the sale of 68 million Bass shares. The Company has received off-market transfer instructions for the remaining shares and expects to complete the transfer and receive funds of a further AUS$25,000 (circa GBP15,500) by 28 March 2017 in accordance with the announced Agreement. In addition, the Company is due to receive the second payment from Bass under the early settlement agreement of a further A$1,185,000 (circa GBP734,000) on or before March 15 2017.

Update on proposed Reverse Takeover of Signature Gold Limited ("Signature")

Further to the announcement of 2 February 2017, StratMin and Signature have made significant progress on the transaction with formal transaction documentation drafting well advanced. The parties have agreed an extension of 10 days to complete the confirmatory due diligence process to allow for the completion of reports. Once the Company completes this, StratMin will enter into a binding Scheme Implementation Agreement with Signature that will be executed as soon as practically possible thereafter.

The Company will make any further announcements in due course.

For further information please visit www.stratminglobal.com or contact:

 
 StratMin Global Resources Plc             +44 (0) 20 
  Brett Boynton, CEO                        3691 6160 
 Allenby Capital (Nominated Adviser 
  & Broker) 
  John Depasquale/ Nick Harriss/Richard    +44 (0) 020 
  A Short                                   3328 5656 
 Optiva Securities (Broker)                +44 (0) 20 
  Christian Dennis                          3137 1903 
 VSA Capital Limited (Financial 
  Adviser)                                 +44 (0) 20 
  Andrew Raca                               3005 5000 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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March 07, 2017 04:32 ET (09:32 GMT)