Brief: Iberian Minerals to spin-out x-leach reagent technology to EnviroLeach Technologies

Regenx Tech

14/12/2016 13:31

Dec 14 (Reuters) - Iberian Minerals: 
    * Co's board have unanimously approved proposal to spin-out 
co's x-leach reagent technology to EnviroLeach Technologies Inc 
    * Iberian minerals - spin-out will include transfer of all 
x-leach related assets to EnviroLeach for price of $3 million 
    * Iberian minerals - under terms of proposed spin-out Co's 
current shareholders to receive about 1 share of EnviroLeach for 
every 10 shares held in Iberian 
    * Iberian minerals ltd -  under terms of proposed spin-out, 
iberian will also be issued a promissory note in amount of $1.6 
million 
    * Iberian Minerals -  under terms of proposed spin-out, 
Iberian will receive 2 million shares of EnviroLeach 
representing 5.41% of issued, outstanding shares 
    * Iberian Minerals - spin-out will include transfer of all 
intellectual property rights to eco-friendly x-leach, 
non-cyanide based leach formula to EnviroLeach 
 
Source text for Eikon:  urn:newsml:reuters.com:*:nMKWQb4ySa 
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