Brief: Erdene Announces Strategic Alliance With Mongolian Mining Corp

Mongolian Mining

10/01/2023 21:47

Jan 10 (Reuters) - Mongolian Mining Corp  0975.HK :
    * ERDENE ANNOUNCES STRATEGIC ALLIANCE WITH MONGOLIAN MINING
CORPORATION
    * ERDENE RESOURCE DEVELOPMENT CORP - UNDER STRATEGIC
ALLIANCE,
INVESTMENT AGREEMENTS, MMC WILL INVEST US$40 MILLION IN ERDENE'S
WHOLLY-OWNED SUBSIDIARY, EM
    * ERDENE RESOURCE DEVELOPMENT CORP - ERDENE WILL RETAIN A
50%
EQUITY INTEREST IN EM
    * ERDENE RESOURCE DEVELOPMENT CORP - ERDENE WILL HAVE RIGHT
TO
APPOINT EM'S CHIEF EXECUTIVE OFFICER
    * ERDENE RESOURCE DEVELOPMENT CORP - MMC WILL APPOINT EM'S
CHIEF
OPERATING OFFICER AND CHIEF FINANCIAL OFFICER
    * ERDENE RESOURCE DEVELOPMENT-UPON CONCLUSION OF STAGE 3, EM
TO BE
GOVERNED BY 4 BOARD DIRECTORS, 2 TO BE APPOINTED BY ERDENE, 2 TO
BE APPOINTED BY MMC
    * ERDENE RESOURCE DEVELOPMENT CORP - ERDENE WILL REMAIN
OPERATOR
OF BAYAN KHUNDII GOLD PROJECT UNTIL COMPLETION OF THIRD PHASE

Source text for Eikon:  ID:nGNX8BKQxJ 
Further company coverage:  0975.HK 
 ((Reuters.Briefs@thomsonreuters.com;))