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BRIEF-European Cobalt Says Entered Into Agreement To Acquire Maroon Gold Pty Ltd

Published 14/11/2019, 01:10 pm
© Reuters.  BRIEF-European Cobalt Says Entered Into Agreement To Acquire Maroon Gold Pty Ltd
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Nov 14 (Reuters) - European Cobalt Ltd EUC.AX :

* EXCLUSIVE OPTION AGREEMENTS ENTERED INTO WITH SHAREHOLDERS OF MAROON GOLD PTY LTD TO ACQUIRE 100% OF ITS ISSUED CAPITAL

* CONSIDERATION FOR PROPOSED ACQUISITION OF ISSUE OF 900.3 MILLION SHARES ISSUED IN CO, PAYMENT OF A$100,000 CASH CONSIDERATION

* CONSIDERATION ALSO COMPRISES REPAYMENT OF A$2 MILLION CONVERTIBLE NOTE, ASSUMPTION OF US$18.3M (NYSE:MMM) OF DEBT

* CO WILL BE RENAMED MOJO MINERALS LTD UPON COMPLETION OF PROPOSED ACQUISITION

* PROPOSED ACQUISITION SUBJECT TO SHAREHOLDER APPROVAL AND COMPLETION OF DUE DILIGENCE

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