Stratmin Global Resources PLC Update re Scheme of Arrangement and Option Payment (7680I)

TIDMSTGR

RNS Number : 7680I

Stratmin Global Resources PLC

21 June 2017

21 June 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")

Update re Scheme of Arrangement and Option Payment

Scheme of Arrangement

Further to the announcements of 2 February 2017, 3 March 2017 and 26 May 2017, StratMin Global Resources Plc (AIM: STGR) is pleased to announce that following the approval last week from the Australian Securities and Investments Commission ("ASIC") for the proposed Scheme of Arrangement (the "Scheme") between StratMin and Signature Gold Limited ("Signature Gold"), the first court hearing for the Scheme was held today, 21 June 2017. The proposal of the Scheme to the Australian Court was successful and the Court has ordered for the Scheme Booklet to be registered and presented to Signature Gold shareholders with a General Meeting to be convened for approval of the transaction. The associated Admission Document will in due course be circulated to StratMin shareholders and a General Meeting similarly called for transaction approval. Documentation will also be published on StratMin's website in due course.

Option Payment

Following the announcement of 2 February 2017, StratMin is pleased to announce that Signature Gold has completed the option payment of US$250,000 to acquire a 10 per cent. interest in Elbrus Resources Limited ("Elbrus"). As detailed in the announcement of 2 February 2017, Signature Gold held the option to acquire the interest in Elbrus, an Isle of Man incorporated holding company that is the owner of the 1.5M+ oz Otava gold resource near the town of Kasperske Hory in the Czech Republic. This is a high grade IRGS deposit with an established initial 1.5M+ oz Au JORC compliant resource with an average 7.29g/t Au grade.

Brett Boynton, CEO of StratMin, said,

"The regulatory approval by ASIC of the transaction and the successful completion of the proposal to the Australian Court marks a major milestone in the progress of rebuilding StratMin as a gold company. Adding to this the completion of the option payments on Elbrus and acquisition of 10% of the Otava deposit gives us great momentum to launch our new strategy.

StratMin shareholders can now move forward with the confidence of an approved transaction and the confirmed support of Signature's Board and Management to complete this transaction and build an exciting new gold exploration and development comapny ."

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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June 21, 2017 07:30 ET (11:30 GMT)