Brief: Greenwing Resources Announces Strategic Funding Transaction With Nio Inc.

Greenwing Resources

26/09/2022 02:30

Sept 26 (Reuters) - Greenwing Resources Ltd  GW1.AX :
    * ANNOUNCES STRATEGIC FUNDING TRANSACTION WITH NIO INC.
    * NIO HAS AGREED TO PAY A$12 MILLION TO CO TO SUBSCRIBE FOR
21.8
MILLION GREENWING SHARES AT ISSUE PRICE OF A$0.55 PER SHARE
    * UPON COMPLETION OF PLACEMENT NIO WILL HOLD A SHAREHOLDING
IN CO
OF ABOUT 12.16%
    * UPON EXERCISE OF CALL OPTION, NIO WILL HAVE DIRECT RIGHTS
TO
OFFTAKE PRODUCTION IN SAN JORGE LITHIUM PROJECT
    * TRANSACTION TO ENABLE GREENWING TO ACCELERATE ITS
EXPLORATION
PROGRAM AT SAN JORGE LITHIUM PROJECT IN CATAMARCA PROVINCE,
ARGENTINA

Source text for Eikon:  ID:nASX6h13g5 
Further company coverage:  GW1.AX 
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