REG - Tertiary Minerals - Closing - Sale of Royalty Interests

Tertiary MineralsAnnouncement

07/10/2022 07:00

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RNS Number : 1482C  Tertiary Minerals PLC  07 October 2022

 7 October 2022

 

Tertiary Minerals plc ("Tertiary" or "the Company")

 

CLOSING - SALE OF ROYALTY INTERESTS

Further to its announcement of 8 August 2022, Tertiary Minerals plc is pleased
to announce that it has now successfully closed the sale of its royalty
interests in the Kaaresselkä and Kiekerömaa properties in Finland to Aurion
Resources Ltd ("Aurion").

Definitive sale agreements have been signed and the transaction is now closed.

Aurion assigned all of its rights in the sale agreement to B2Fingold Oy ("B2
Fingold", a Finnish company in which Aurion holds an interest) in so far as
they relate to the Kiekerömaa Property and consequently separate agreements
have been executed with Aurion in respect of the Kaaresselkä royalty interest
and with B2Fingold Oy in respect of the Kiekerömaa royalty interest.

Notwithstanding the separate agreements, the aggregate consideration from
Aurion and B2 Fingold, now received by the  Company, is the same as that
advised in the Company's  announcement of 8 August 2022, being:

·    CAD$200,000, paid in cash, and

 

·    The issue to Tertiary of 83,333 common shares in Aurion Resources Ltd
(the "Consideration Shares").

 

The Consideration Shares are subject to a hold period and cannot be sold
before 25 December 2022, being four months and one day after the date of
issue.

 

For more information please contact:

 Tertiary Minerals plc:
 Patrick Cheetham, Executive Chairman      +44 (0) 1625 838 679
 SP Angel Corporate Finance LLP, Nominated Adviser and Broker
 Richard Morrison                          +44 (0) 203 470 0470
 Caroline Rowe
 Peterhouse Capital Limited, Joint Broker
 Lucy Williams        + 44 (0) 207 469 0930
 Duncan Vasey

 

 

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 which forms part of UK domestic law by virtue of the
European Union (Withdrawal) Act 2018 ('MAR'). Upon the publication of this
announcement via a Regulatory Information Service ('RIS'), this inside
information is now considered to be in the public domain.

 

 

 

 

 

 

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