Brief: Prospect Resources Ltd Sells Interest In Arcadia Lithium Project For $378 Mln
23/12/2021 24:47
Dec 23 (Reuters) - Prospect Resources Ltd PSC.AX :
* PROSPECT SELLS INTEREST IN ARCADIA FOR US$378M
* BINDING AGREEMENTS EXECUTED FOR SALE OF ARCADIA LITHIUM
PROJECT
TO ZHEJIANG HUAYOU COBALT
* AGREEMENTS EXECUTED FOR SALE OF CO'S 87% INTEREST IN
ARCADIA
LITHIUM PROJECT TO UNIT OF ZHEJIANG HUAYOU COBALT FOR $377.8
MILLION
* ANTICIPATES TRANSACTION COMPLETING IN LATE Q1 / EARLY Q2
2022
* BREAK FEE OF US$20 MILLION PAYABLE BY PROSPECT IN CERTAIN
CIRCUMSTANCES WHERE TRANSACTION DOES NOT COMPLETE
Source text for Eikon: ID:nASXpdmkv
Further company coverage: PSC.AX
((Reuters.Briefs@thomsonreuters.com;))
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