Execution of Share Purchase Agreement - Samphire Project
Brisbane, Aug 3, 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 subsequent status updates.
Alligator is pleased to confirm that a Share Purchase Agreement has now been executed with Samphire Uranium Limited (Samphire) based on the Terms Sheet detailed in the announcement of 11 June 2020.
Preparation of meeting materials are well underway for both Alligator and Samphire to call their respective meetings of shareholders to consider approval of the proposed transaction and to enable Samphire to conduct an in-specie distribution of the Alligator consideration shares. Once a timetable for holding the meetings is finalised a further market update will be provided. Currently the meetings are being targeted for late September 2020.
Alligator's technical, financial and legal due diligence is largely complete with the residual procedures being finalised on environmental compliance, land access and completing acquisition of all relevant technical information.
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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