The closing of the transaction includes the issue of 19 million shares of Westminster (worth about C$2.66 million today)
() will pocket 19 million shares of Ltd () following the sale of its Ilo Norte and Ilo Este copper projects in Peru to Westminster.
Westminster has now completed the incorporation of its subsidiary in Peru, and has started the process to transfer the Peruvian copper projects acquired from Latin.
This completes the transaction revealed by Latin in September 2017.
Importantly, the closing of the transaction includes the issue of 19 million shares of Westminster (worth about C$2.66 million today) to Latin, which vest as follows:
• 1 million shares vest on 8 August 2018;
• 3 million shares vest on 8 February 2019, along with the final US$100,000 payment; and
• 15 million shares vest on 8 August 2019.
Westminster has also appointed, Chris Gale, managing director of Latin Resources to its board.
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...
In exchange for publishing services rendered by the Company on behalf of Latin Resources Ltd named herein, including the promotion by the Company of Latin Resources Ltd in any Content on the Site, the Company...
FOR OUR FULL DISCLAIMER CLICK HERE