17:00 Mon 20 Jul 2020
Bezant Resources PLC - Completion of Due Diligence re Hope Project
("Bezant" or the "Company")
Completion of Due diligence re
Bezant (AIM: BZT), the copper-gold exploration and development company, further to its announcements on
As announced on
i) Bezant has completed its due diligence to its satisfaction during the Due Diligence Period;
ii) Bezant has all the consents and approvals it required to complete the Acquisition save for the procedural consent required from AIM for Admission to trading of the Bezant Shares to be issued at Completion;
iii) Virgo does not need any regulatory approvals to complete the Acquisition; and
iv) Execution at Completion of the Agreed Form Completion Documentation by Virgo's shareholders will affect the transfer of their Virgo shares, Virgo unlisted options and Virgo deferred consideration performance shares to the Bezant group.
"The completion of our corporate and technical due diligence on the acquisition of Virgo and its +70% interest in the Hope Gold Copper project is an important milestone for Bezant. We now look forward to completing the administrative process of the parties completing the execution of the Agreed Form Completion Documentation. The Acquisition is on very favourable terms, of a major copper-gold project in an excellent jurisdiction with a significant JORC resource. As announced on
The Company will make a further announcement once the remaining administrative processes of Completion of the Acquisition have been completed.
Notes:
Capitalised Defined terms used in this announcement have, unless indicated to the contrary, the same meaning ascribed to them in the Company's announcement dated
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.
For further information, please contact:
Executive Chairman |
+27 726 118 724
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+44 (0) 20 7399 9400
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or visit http://www.bezantresources.com
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.
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