REG - Amur Minerals Corp - Company Update

Amur MineralsAnnouncement

04/03/2024 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240304:nRSD3631Fa&default-theme=true

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               Nomad and Broker

 Amur Minerals Corp.   S.P. Angel Corporate Finance LLP
 Robin Young CEO       Richard Morrison

                       Adam Cowl
 +1 (925) 408-4621     +44 (0) 20 3470 0470

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDQKNBPNBKDFNK