Completion of Munni Munni Project Sale

RNS Number : 5758F

Artemis Resources Limited

22 March 2022

 

22 March 2022

Artemis Resources Limited

("Artemis" or the "Company")

Completion of Munni Munni JV Platinum Group Metals and Gold Project Sale to London-Listed Alien Metals Limited

 

Artemis Resources Limited ("Artemis" or "the Company") (ASX/AIM:ARV, Frankfurt: ATY, US OTCQB: ARTTF) is pleased to provide an update on the proposed transaction announced on the 22 of December 2021 (ASX release "Agreement to Sell 70% Munni Munni JV Interest for A$4.9m in Cash and Shares") to sell its 70% joint venture interest in the Munni Munni Platinum Group Metals and Gold Project to Alien Metals PLC (LSE AIM:UFO) ("Alien").

Highlights

· Completion has occurred of sale of Artemis's 70% interest in the Munni Munni JV.

· Artemis has received A$250,000 in cash and is to now be issued 358,617,818 ordinary shares in Alien Metals Limited (A$4,650,000 worth of shares at a deemed VWAP of 0.699p per share).

· These shares would have a value of ~£3,050,000 (~A$5,455,000) as of 21 March 2022*.

Alastair Clayton, Executive Director commented : "We are pleased to become a significant shareholder of Alien who have been able to consolidate for the first time in many years one of Australia's largest PGE projects. Artemis is supportive of Alien's plans to explore and develop what could become a major strategic metals project and we look forward to being a shareholder of the company."

*GBP£/$AUD exchange rates (1.79) and Alien share price of 0.085p as of 21/03/2022.

For further information on the Company, please visit https://artemisresources.com.au/ or contact:  

Artemis Resources Limited	via Camarco
Alastair Clayton
WH Ireland Limited (Nominated Adviser and Broker)
Jessica Cave / Megan Liddell (Corporate Finance)  Harry Ansell / Daniel Bristowe (Corporate Broking)	Tel: [phone] Tel: [phone]
Camarco (Public Relations)	Tel : [phone]
Gordon Poole / James Crothers Emily Hall / Rebecca Waterworth	Email: [e-mail]

This announcement was approved for release by the Board.

About Artemis Resources

Artemis Resources (ASX: ARV; AIM: ARV, FRA: ATY; US: ARTTF) is an Australian-based exploration and development company, led by an experienced team that has a singular focus on delivering shareholder value from its Pilbara gold projects - the Greater Carlow Gold Project in the West Pilbara and the Paterson Central exploration project in the East Pilbara.

MAR

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

END

 

 

DISPPUQPWUPPUMP