17 July 2023
COMPLETION OF EAST TENNANT PROJECT DIVESTMENT
Strategic Energy Resources Limited ("SER" or "the Company") is pleased to provide an update regarding the binding Sale and Purchase Agreement ("SPA") with ASX-listed Middle Island Resources Limited (ASX:MDI; MDI or Middle Island) for the sale of SER's East Tennant Project as previously announced on 16 May 2023. The sale includes EL32109, EL335071, EL32307, EL32617, and EL32670 which are located near to Middle Island's existing exploration projects.
As of the 17th July 2023, all conditions of the SPA have been satisfied and 18,240,000 fully paid ordinary MDI shares have been issued to SER using MDI's existing placement capacity under Listing Rule 7.1. SER now holds approximately 14.9% of the shares on issue in MDI. The shares are subject to a voluntary 12-month escrow period from the date of completion.
This announcement is authorised by the Strategic Energy Resources Limited Board.
For further information please contact: | |
Investors | Media |
Dr David DeTata | Jonathan van Hazel |
Managing Director | Citadel-MAGNUS |
T +61 3 9692 7222 | T +61 6160 4906 |
Einfo@strategicenergy.com.au | Ejvanhazel@citadelmagnus.com |
Wwww.strategicenergy.com.au | - END - |
About Strategic Energy Resources
Strategic Energy Resources is a specialized undercover mineral explorer and project generator focused on discovery in the Greenfield frontiers of Australia. Our science drive, expert technical team leverage collaborations with government and private partners in our search for the next major mineral deposit.
1 EL33507 replaces recently amalgamated EL32306 & EL32809
Strategic Energy Resources Ltd, Level 4, 100 Albert Road, South Melbourne, Victoria 3205 T+61 3 9692 7222
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Middle Island Resources Limited published this content on 17 July 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 July 2023 23:17:04 UTC.