Signing of the Share Purchase Agreement

RNS Number : 0947I

Pembridge Resources PLC

14 June 2017

 

14^th June 2017

Pembridge Resources Plc

("Pembridge" or "the Company")

Signing of the Share Purchase Agreement

Pembridge Resources plc (LON: PERE), the AIM listed natural resource exploration and development company, today announces that a Share Purchase Agreement (SPA) has been signed between Pembridge (the Seller) and Thor Mining PLC ("Thor") (the Buyer) for the sale of the US based Lithium assets, currently held by the Company.

Further to the RNS on 8 February 2017, Pembridge has sold its shareholding for a consideration of $75,000 payable in cash. The proceeds will be used to fund normal working capital.

David Linsley, CEO, Stated:

"As with the recently sold Botswana assets, the early stage exploration Lithium assets we inherited from previous management are not suitable under the Company's strategy going forward. 

"While we complete  the restructuring of Pembridge, working towards joining the main board of the LSE, we will continue to develop the exciting pipeline of projects our team has sourced."

Pembridge Resources PLC David Linsley, Chief Executive Officer	T: [phone]
SPARK Advisory Partners - Nominated Adviser Sean Wyndham-Quin Neil Baldwin	T: [phone] www.sparkadvisorypartners.com
Shard Capital - Joint Broker                          Damon Heath    SI Capital Limited - Joint Broker Nick Emerson Andy Thacker	T: [phone] T: [phone]
Beaufort Securities Limited - Joint Broker Zoe Alexander	T: [phone]
Blytheweigh - Financial PR Tim Blythe, Camilla Horsfall, Nick Elwes	T: [phone]

 

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