Amur Minerals Corporation Company Update

RNS Number : 3631F

Amur Minerals Corporation

04 March 2024

 

 

4 March 2024

 

AMUR MINERALS CORPORATION

(AIM: AMC)

 

Company Update

 

Amur Minerals Corporation ("Amur" or the "Company"), which has been reclassified as an AIM Rule 15 cash shell, announces an update regarding progress towards completing a Reverse Takeover ('RTO') pursuant to AIM Rule 14 ("RTO").

The Company entered into a heads of terms agreement ("HOT") to acquire a UK based candidate in the healthcare sector (the "Target") on 25 January 2024. The Target is a UK-based pharmaceutical company which has developed an innovative drug delivery technology to improve the clinical performance of cancer treatments for solid tumours through the local delivery of chemotherapy.

Pursuant to the HOT, Amur would acquire the entire issued share capital of the Target in return for the issue of new ordinary shares in Amur (the "Consideration Shares").

The proposed transaction will constitute a RTO and is therefore subject to certain matters including completion of financial, legal and technical due diligence on the Target, the negotiation and entering into an appropriate SPA, the publication of an AIM Admission Document and the approval by Amur's shareholders at a general meeting.

The Company is currently advancing the necessary workstreams to complete the RTO process and expects to be in the position to publish an AIM Admission Document before the end of April 2024. The Company's shares will remain suspended from trading pending publication of the AIM Admission Document.

At this stage, there can be no assurance that the Company will be able to complete this RTO, or any other RTO.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

Enquiries:

 

Company Amur Minerals Corp.	Nomad and Broker S.P. Angel Corporate Finance LLP
Robin Young CEO	Richard Morrison Adam Cowl
[phone]	[phone]

 

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