African Rainbow Minerals Limited Acquires Shares of Surge Copper Corp.
June 03 2024 - 8:41AM
African Rainbow Minerals Limited
(JSE:
ARI) (A2X: ARI)
(“
ARM”) announces that it has purchased 41,373,414
common shares (“
Surge Shares”) in the capital of
Surge Copper Corp. (“
Surge”) pursuant to a
non-brokered private placement at a price of C$0.095 per share for
total consideration of approximately C$3,930,474.33 (the
“
Private Placement”).
Immediately prior to the Private Placement, ARM
held no Surge Shares or other securities of Surge. Upon closing of
the Private Placement, ARM owns 41,373,414 Surge Shares (the
“Purchased Shares”), representing approximately
15.0% of the issued and outstanding Surge Shares on a non-diluted
basis.
ARM acquired the Purchased Shares for investment
purposes. ARM may from time to time acquire additional Surge Shares
or other securities of Surge or dispose of some or all of the Surge
Shares or other securities of Surge that it owns at such time.
An early warning report will be filed by ARM in
accordance with applicable securities laws.
About ARM
ARM is a South African diversified mining and
minerals company with operations in South Africa and Malaysia. ARM
mines and beneficiates iron ore, manganese ore, chrome ore,
platinum group metals, nickel and coal and also has an investment
in Harmony Gold Mining Company Limited.
ARM’s head office is located at 29 Impala Road,
Chislehurston, Sandton, Johannesburg, Gauteng, South Africa 2196.
Surge’s head office is located at 888-700 West Georgia Street,
Vancouver, British Columbia V7Y 1G5.
For further information, or to obtain a copy of
the early warning report filed by ARM in accordance with applicable
securities laws, please contact:
Name: Thabang ThlakuTitle:
Executive: Investor Relations and New Business
DevelopmentEmail:
thabang.thlaku@arm.co.zaTelephone: +27 11 779
1300 |
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