29th Sep 2021 15:44
Stranger Holdings PLC - London-based investment company intending to acquire a target company, business or asset in the industrial or service sector - Enters non-binding memorandum of understanding for the acquisition of African-based resource assets.
The deal will constitute a reverse takeover of Stranger and require publishing of a prospectus before the readmission of shares. In addition, Stranger will no longer proceed with its agreement to acquire Technology Minerals Ltd.
Technology Minerals is currently advancing several acquisitions, company notes, focused on extracting raw materials required for Li-ion battery cathodes. Cash will be lent to Technology Minerals, while Stranger will incur further costs and liabilities over the transaction process.
Current stock price: 1.375 pence, suspended
By Dayo Laniyan; [email protected]
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