TIDMORM

RNS Number : 5620B

Ormonde Mining PLC

03 October 2022

3 October 2022

Ormonde Mining plc

("Ormonde" or the "Company")

Completion of Sale of La Zarza Assets

Ormonde is pleased to announce completion of the sale of its land, data and drillcore assets at its La Zarza project in Spain ("Completion"). La Zarza's assets are being sold for a cash consideration of EUR2.3 million to La Zarza Mineria Metalica S.L.U. a subsidiary of Tharsis Mining S.L.

The Company has now received EUR800,000 with the balance to be paid in three equal payments of EUR500,000 on the first, second and third anniversaries of Completion. Ormonde holds security over the deferred cash payments.

Following Completion, Ormonde has become an AIM Rule 15 cash shell and, as such, will be required to make an acquisition or acquisitions constituting a reverse takeover under AIM Rule 14 and Euronext Growth Market rules on or before the date falling six and twelve months respectively from Completion.

Enquiries:

Ormonde Mining plc

Brian Timmons, Non-Executive Chairman

Tel: +353 (0)1 801 4184

Vigo Consulting (Investor Relations)

Ben Simons / Charlie Neish

Tel: 44 (0)20 7390 0230

Davy (Nomad, Euronext Growth Listing Sponsor and Broker)

Barry Murphy

Tel: +353 (0)1 679 6363

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DISBXLFBLBLBFBV

(END) Dow Jones Newswires

October 03, 2022 06:11 ET (10:11 GMT)

Ormonde Mining (AQSE:ORM)
Gráfica de Acción Histórica
De Dic 2024 a Ene 2025 Haga Click aquí para más Gráficas Ormonde Mining.
Ormonde Mining (AQSE:ORM)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025 Haga Click aquí para más Gráficas Ormonde Mining.