Brief: Venus Metals Corporation Says Unit Enters Binding Transaction With A Unit Of IGO

Venus Metals

27/06/2022 01:39

June 27 (Reuters) - Venus Metals Corporation Ltd  VMC.AX :
    * UNIT ENTERED A BINDING TRANSACTION WITH A UNIT OF  IGO
LIMITED
    * DEAL FOR EXPLORATION AND, IF WARRANTED, DEVELOPMENT AND
MINING
AT CO'S BRIDGETOWN GREENBUSHES EXPLORATION
    * FARM-IN & JOINT VENTURE IN WHICH IGO UNIT CAN ACQUIRE UP
TO A
70% INTEREST IN BRIDGETOWN GREENBUSHES EXPLORATION PROJECT
    * IGO LTD SUBSCRIBING FOR 9 MILLION FULLY PAID ORDINARY
SHARES IN
VMC AT A$0.23C PER SHARE
    * IGO UNIT TO BUY UP TO 70% STAKE IN PROJECT BY INCURRING
A$6
MILLION OF EXPLORATION EXPENDITURE ON PROJECT

Source text for Eikon:  ID:nASXbG3C8W 
Further company coverage:  VMC.AX 

 ((Reuters.Briefs@thomsonreuters.com;))