Kavango Resources PLC ZIM – Hillside Option Exercise
April 23 2024 - 12:12PM
RNS Regulatory News
RNS Number : 7432L
Kavango Resources PLC
23 April 2024
23 April 2024
Kavango Resources
("Kavango" or "the
Company")
ZIM - Hillside Option
Exercise
Kavango Resources plc (LSE: KAV), the Southern
Africa focussed metals exploration company, is pleased to announce
that it has provided notice of exercise of the Hillside Call Option
to the vendors of the Hillside Project ("Hillside") and Leopard
South Project ("Leopard South"). Kavango intends to extend the Call
Option on Leopard North to 30 June 2025.
Purchase agreements for Hillside and Leopard
South are being drawn up by the Company's legal representatives and
completion is scheduled for 15 May 2024.
Summary
· The
Sellers and Kavango entered into call options in respect of the
Hillside, Leopard North and Leopard South projects in a Call Option
Agreement ("The Call Option") dated 25 July 2023,
(announced
>>> 25 July 2023). The Call Option had an
initial term of six months, expiring 24 January 2024. This was
subsequently extended, pending negotiation of revised terms
following introduction of the Special Capital Gains Tax in
Zimbabwe. Any material revisions to the terms will be announced in
due course.
·
Kavango has served notice of exercise to the Sellers,
effective 23 April 2024.
·
Completion is expected to occur on 15 May 2024.
For further information please
contact:
Kavango
Resources plc
Ben Turney
+46 7697 406 06
First Equity (Broker)
Jason Robertson
+44 207 374 2212
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