Acquisition of Samphire Uranium Project - Progress Update
Brisbane, July 1, 2020 AEST (ABN Newswire) - Alligator Energy (
ASX:AGE) refers to the market announcement of 11 June 2020 titled 'Alligator to acquire 47 M lbs uranium resource in South Australia from Samphire Uranium' and confirms that progress continues in documenting the proposed transaction in the form of a Share Purchase Agreement and in clarifying the regulatory requirements for tabling the transaction for approval by the respective shareholders.
The ASX has confirmed that the proposed transaction will not require AGE to comply with Chapters 1 and 2 of the Listing Rules which will reduce the timeline within which a general meeting of AGE Shareholders can be called to consider approval. AGE is now awaiting clarity from ASIC on the regulatory requirements under the Corporations Act in relation to the completion process for the proposed transaction.
The market announcement of 11 June 2020 indicated that the parties had agreed to use their best endeavours to negotiate in good faith to enter into a Share Purchase Agreement in a fuller form but consistent with the Binding Terms Sheet by no later than 30 June 2020. Whilst this task is well progressed, to allow for clarification of any ASIC regulatory requirements, the parties have agreed to extend the deadline for finalising the Share Purchase Agreement to 17 July 2020.
About Alligator Energy Ltd
Alligator Energy Ltd (ASX:AGE) is an Australian, ASX-listed, exploration company focused on uranium and energy related minerals, principally cobalt-nickel.
Alligator's Directors have significant experience in the exploration, development and operations of both uranium and nickel projects (both laterites and sulphides).
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