Liontown recently owns 100% of the Moora Mission and is celebration to a farm-in and three way partnership settlement, pursuant to which it has the best to obtain a 51% passion within the Koojan JV Mission via its wholly-owned subsidiary, ERL (Aust) Pty Ltd (ERL) (Koojan JVA).
The Corporate has entered right into a Percentage Sale Settlement with Liontown below which it’ll gain 100% of the percentage capital in ERL from Liontown along side the Demerger, matter to delight or waiver of sure prerequisites precedent, together with delight of the prerequisites precedent below the Demerger Implementation Settlement. This can be a situation of the Demerger that the Liontown Shareholders approve the In-specie Distribution by means of the pro-rata Capital Aid and Demerger Dividend. Subsequently, the purchase of ERL is not going to continue except shareholders of Liontown approve the Demerger.
Assuming that the Demerger is carried out, the Corporate proposes to adopt exploration around the Tasks, with the aim of following up quite a lot of objectives known by way of earlier sampling and drilling methods finished by way of Liontown.
It’s expected that MI6 will listing at the ASX all over October 2021.
Minerals 260 Restricted (ASX:MI6) indexed at the Australian Securities Alternate in October 2021 following a demerger from Liontown Sources Restricted (ASX:LTR).