Australia's Ookami posts best day in 11 months after terminating acquisition

First Lithium

30/06/2022 07:14

** Shares of Ookami Ltd  OOK.AX  rise 18.5% to A$0.16, post
their best daily gain since June 15, 2021
    ** OOK announces termination of acquisition of West
Africa-based African Mining Corp Pty, in view of prevailing
market conditions
    ** Says will also cancel entitlement offer announced in
April to fund the acquisition  urn:newsml:reuters.com:*:nASX2723mp
    ** Co will continue to advance its African mineral
exploration projects, Boulbi and Messok East
    ** Shares hit their highest since June 23
    ** More than 239,000 shares change hands, compared with the
30-day average volume of about 94,000 shares 
    ** Stock down about 21% this year, as of last close

 (Reporting by Anan Ashraf in Bengaluru)
 ((Anan.Ashraf@thomsonreuters.com;))