REG - Bezant Resources PLC - Proposed sale of Eureka Project in Argentina

Bezant ResourcesAnnouncement

25/02/2025 08:00

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RNS Number : 2549Y  Bezant Resources PLC  25 February 2025

 

25 February 2025

Bezant Resources Plc

("Bezant" or the "Company")

Proposed sale of Eureka Project in Argentina

 

Bezant (AIM: BZT), the copper-gold exploration and development company,
announces that the Company has agreed head of terms (the "HoT") with Ajax
Resources Plc ("Ajax") (LSE:AJAX) to sell Puna Metals S.A. ("Puna") which
holds the 12 licences comprising the Eureka Project located in the Republic of
Argentina ("Eureka" or the "Project").

 

Under the HoT, Bezant, has agreed terms, to be formalised by way of a share
purchase agreement, to sell 100% of Puna by way of an initial US$120,000 cash
payment, with deferred consideration of an additional US$100,000, to be
satisfied through the issue of new ordinary shares of 1 pence each in Ajax to
Bezant (the "Disposal").

 

The deferred consideration element of the Disposal will become payable on the
admission to trading of the enlarged share capital of Ajax to a recognised
stock exchange or multilateral trading facility, with the value of the
deferred consideration calculated by reference to a broader fundraising
concurrently undertaken by Ajax.

 

Bezant's audited accounts to 31 December 2023 included total assets of £11K
and liabilities of £105K in relation to the Eureka Project.

 

The Company will provide further information in due course.

 

For further information, please contact:

 Bezant Resources Plc

+44 (0) 20 3416 3695
 Colin Bird Executive Chairman
 Beaumont Cornish (Nominated Adviser)       +44 (0) 20 7628 3396

Roland Cornish / Asia Szusciak
 Novum Securities Limited (Joint Broker)

 Jon Belliss                                +44 (0) 20 7399 9400
 Shard Capital Partners LLP (Joint Broker)

 Damon Heath                                +44 (0) 20 7186 9952

Beaumont Cornish (Nominated Adviser)

Roland Cornish / Asia Szusciak

+44 (0) 20 7628 3396

Novum Securities Limited (Joint Broker)

Jon Belliss

 

+44 (0) 20 7399 9400

Shard Capital Partners LLP (Joint Broker)

Damon Heath

 

+44 (0) 20 7186 9952

 

or visit http://www.bezantresources.com (http://www.bezantresources.com)

 

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 as it forms part of UK Domestic Law pursuant to the Market
Abuse (Amendment) (EU Exit) regulations (SI 2019/310).

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

 

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