Amur Minerals Corp - Transaction Update
07/11/2022 13:37
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RNS Number : 5569F Amur Minerals Corporation 07 November 2022
7 November 2022
AMUR MINERALS CORPORATION
(AIM: AMC)
Transaction Update
Amur Minerals Corporation ("Amur" or the "Company") takes this opportunity to
update shareholders on the status of the Company's disposal of its AO
Kun-Manie wholly owned subsidiary to Bering Metals LLC (the "Buyer"), a
Russian incorporated company. Totaling US$35 million, the transaction was
anticipated for completion in early November 2022.
However Western introduced restrictions related to the international transfer
of funds from the Russian Federation have become more restrictive with time.
Mainstream international banks are severely restricting or are no longer
allowing such transactions per their internal compliance protocols. This
includes the Company's bank which has necessitated establishing alternative
banking services. The Buyer and the Company are coordinating efforts to
establish a fully compliant fund transfer allowing for completion.
Robin Young, CEO of Amur, commented:
"Amur and Bering are keen to complete the sale of AO Kun-Manie as soon as
possible. The majority of our efforts are focused on establishing a chain of
custody for the fund transfer which is fully compliant with the current
geopolitical situation. We look forward to updating shareholders once the
banking restrictions are successfully solved. With regard to timing, this is
dependent upon banking institutions completion of their Know Your Client
("KYC") protocols."
Market Abuse Regulation (MAR) Disclosure)
This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.
Company Nomad and Broker Public Relations
Amur Minerals Corp. S.P. Angel Corporate Finance LLP BlytheRay
Robin Young CEO Richard Morrison Megan Ray
Adam Cowl Tim Blythe
+44 (0) 7981 126 818 +44 (0) 20 3470 0470 +44 (0) 20 7138 3203
For additional information on the Company, visit the Company's website,
www.amurminerals.com (http://www.amurminerals.com) .
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