TSX VENTURE COMPANIES
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24/03/04 - TSX Venture Exchange Bulletins
TSX VENTURE COMPANIES
BULLETIN V2024-0672
ARANJIN RESOURCES LTD. ("ARJN")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: March 4, 2024
TSX Venture Tier 1 Company
TSX Venture Exchange has accepted for filing documentation with respect to three (3) Tenements Interests Purchase and Joint Venture agreements dated October 5, 2023 (together "the Agreement"), between the Company and 2 non-arm's length parties: Metals of Australia Pty Ltd. ("MoA") and Western Wood Capital Pty Ltd. ("WWC") (together "the Vendors"). Pursuant to the Agreement, the Company acquired an 80% interest in twelve exploration licences, comprising the Bangemall Project in Western Australia, the Gawler Project in South Australia, and the Western Wood Project in New South Wales, Australia (together "the Properties").
Under the terms of the Agreement and as consideration for the acquisition, the Company will ?issue an aggregate of 55,000,000 common shares of the Company to the Vendors, whereby 40,000,000 common shares will be issued to MoA and 15,000,000 will be issued to WWC. Further, the Vendors will retain between 3% - 4% net smelter royalty (NSR) on the Properties.
On completion of the acquisition, the Properties will be held in a joint venture company (the "JV"), between the Company and the Vendors. In the event if either party withdraws from the JV, such interest will be converted to a 1.5% net smelter royalty.
For further details, please refer to the Company's news release dated October 10, 2023, January 08, 2024 and February 22, 2024.
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