The t.sage just stated that my Cervantes CVS share holding has "Potential Upside". I am not positive but that sure sounds like "Licensed Advice" to me.
He added "to achieve further returns we decided to take more scrip instead of cash because of the potential upside in the latest results which in turn will further add value to European Lithium." So he thinks CVS scrip is "More Better" than cash!
The parties have agreed to settle the remaining cash consideration payable of $80,000 through the issue of 7,000,000 shares in CVS at a deemed issue price of 1.14c each. The Company will also be issued one free attaching unquoted option for every two shares issued which are exercisable at 1.5 cents each on or before 30 June 2020.
Non-Executive Chairman, Tony Sage, said "we are very pleased that this transaction has now completed and we wish CVS all the best in the development of the Paynes Find project and more recently the very high grade results from Albury Heath." He added "to achieve further returns we decided to take more scrip instead of cash because of the potential upside in the latest results which in turn will further add value to European Lithium."
Tony Sage
Non-Executive Chairman
European Lithium Limited
END
