Brief: Element, Auplata in deal to take stake in Moroccan miner

Auplata Mining SA

07/05/2018 04:51

May 7 (Reuters) - Element Asa  ELEM.OL :
    * SIGNS LOI WITH AUPLATA TO JOINTLY ACQUIRE MATERIAL STAKE
IN 
PUBLICLY LISTED MINING COMPANY WITH LONG DIVIDEND HISTORY AND
OUTLOOK
    * JOINT VENTURE AGREEMENT ("JV") TO ACQUIRE 100% OF ALL
OUTSTANDING SHARES IN OSEAD MAROC MINING SA ("OMM") WHICH OWNS
APPROXIMATELY 37% OF VOTING SHARES AND SHARE CAPITAL OF LISTED
COMPANY COMPAGNIE MINIÈRE DE TOUSSIT SA
    * SECURES CONVERTIBLE NOTE FACILITY OF NOK 500 MILLION AND
OPTION
FOR ADDITIONAL NOK 500 MILLION

Source text for Eikon:  urn:newsml:reuters.com:*:nNDL5YGsgn urn:newsml:reuters.com:*:nObis5ypla
Further company coverage:  ELEM.OL 

 (Reporting By Terje Solsvik)
 ((terje.solsvik@thomsonreuters.com;))