Minotaur Exploration Limited (‘Minotaur’) announces creation of an alliance with a private equity company (‘Investor’) to jointly advance both copper-gold and gold focused exploration and development projects within Australia (‘the Alliance’). Projects of interest include existing Minotaur portfolio assets and other opportunities from advanced exploration through to development.
Formation of the Alliance includes an immediate cash injection of $1.05m into Minotaur, incorporating:
? a cornerstone placement of $750k for the issue of 4.2 million shares (at 18c per share) and 1 for 2 attaching options with a strike price of 30c; and
? a further injection of $300k plus stamp duty for a 50% interest in Minotaur’s wholly-owned subsidiary, Minotaur Gold Solutions Ltd.
MEP Price at posting:
11.5¢ Sentiment: LT Buy Disclosure: Held
