Brief: Ceylon Graphite Announces New Agreement For Acquisition Of Sarcon Development

Ceylon Graphite

07/02/2023 12:49

Feb 7 (Reuters) - Ceylon Graphite Corp  CYL.V :
    * CEYLON GRAPHITE ANNOUNCES AMENDED AND RESTATED AGREEMENT
FOR
ACQUISITION OF SARCON DEVELOPMENT
    * CEYLON GRAPHITE CORP - ENTERED INTO AN AMENDED AND
RESTATED
AGREEMENT DATED FEBRUARY 4, 2023 WITH A PRIVATE VENDOR BASED IN
SRI LANKA
    * CEYLON GRAPHITE CORP - UNDER RESTATED AGREEMENT, HAS
AGREED TO
ISSUE TO VENDOR COMMON SHARES EQUAL TO AN AGGREGATE SUM OF
US$1.63 MILLION
    * CEYLON GRAPHITE CORP - BELIEVES THAT TRANSACTIONS
CONTEMPLATED
BY RESTATED AGREEMENT WILL FREE UP CAPITAL FOR DEVELOPMENT ON
ITS SRI LANKAN PROPERTIES
    * CEYLON GRAPHITE - BELIEVES DEALS CONTEMPLATED BY RESTATED
AGREEMENT TO ENSURE ORDERLY DELIVERY OF SARCON SHARES TO
PLUMBAGO

Source text for Eikon:  ID:nGNX9QDpsP 
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