Update on White Flame Energy Transaction
17/07/2024 07:00
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RNS Number : 6646W Bluejay Mining PLC 17 July 2024
17 July 2024
Bluejay Mining plc / Ticker: JAY / Market: AIM / Sector: Mining
Update on White Flame Energy Transaction
Bluejay Mining plc ('Bluejay' or the 'Company'), the AIM, FSE listed and
Pink-Market traded exploration and development company with projects in
Greenland and Finland, is pleased to provide an update on the acquisition of
White Flame Energy Limited ("WFE"). WFE is the 100% owner of three potentially
large scale industrial gas, natural gas and liquid hydrocarbon rich
exploration and exploitation licences, onshore, East Greenland.
The Company's conditional offer, announced 20 June 2024 and approved by
Bluejay shareholders at the General Meeting held on 10 July 2024, to acquire
up to an initial 51% of the issued share capital of White Flame for
£1,402,500, payable in Bluejay shares has been accepted by approximately 95%
of WFE shareholders. Bluejay has also been granted a 3 year option to acquire
the remaining 49% on the same terms.
The process of transferring the WFE shares will take place over the coming
weeks and further details on the issue of the consideration shares to the WFE
vendors and the Company's change of name will be announced at the appropriate
time.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the
European Union (Withdrawal) Act 2018.
For further information please visit http://www.bluejaymining.com
(http://www.bluejaymining.com) or contact:
Eric Sondergaard Bluejay Mining plc enquiry@bluejaymining.com
Ewan Leggat / Adam Cowl SP Angel Corporate Finance LLP +44 (0) 20 3470 0470
(Nominated Adviser and Broker)
Tim Blythe / Megan Ray / Said Izagaren BlytheRay +44 (0) 20 7138 3205
(Media Contact)
About Bluejay Mining plc
Bluejay is listed on the London AIM market and Frankfurt Stock Exchange and
its shares also trade on the Pink Market in the US. With multiple projects in
Greenland and Finland, Bluejay offers both portfolio and commodity
diversification focused on base and precious metals in Tier 1 jurisdictions.
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