21 September 2018
(The "Company" or “MetalNRG”)
US COBALT PTY LTD SALE APPROVED
MetalNRG plc (NEX:MNRG), the natural resource investing company quoted on the NEX Exchange Growth Market in London, is pleased to confirm the approval, by the Tyranna Resources Limited (ASX:TYX) shareholders, of the sale agreement (“Agreement”) in respect of its interest in US Cobalt Pty Limited to Tyranna Resources Limited (ASX:TYX).
The announcement released by Tyranna Resources in respect of the transaction can be viewed through the following link:
Under the transaction, MetalNRG plc will receive 21,719,457 consideration shares in Tyranna Resources which at the deemed transaction price of A$0.017 equates to a consideration received of A$369,231 or circa £211,327 at current exchange rates.
25% of consideration shares (i.e. 5,429,864 shares) will remain under voluntary escrow for a six month period following the Agreement date.
Rolf Gerritsen, Chief Executive Officer of MetalNRG Plc commented: "I am pleased to confirm Tyranna's shareholders approval in respect of the US Cobalt disposal.
In addition to the bolstering of our balance sheet, this disposal provides additional working capital at a very important time in the rapid development of the MetalNRG business".
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. Rolf Gerritsen, Chief Executive Officer of MetalNRG, arranged for the release of this announcement. The Directors of the Company accept responsibility for the contents of this announcement.
MetalNRG PLC Rolf Gerritsen (Chief Executive Officer) +44 (0) 20 7796 9060 NEX Exchange Corporate Adviser PETERHOUSE CAPITAL LIMITED +44 (0) 20 7469 0930 Guy Miller/Mark Anwyl Corporate Broker SI CAPITAL +44 (0) 1483 413500 Nick Emerson
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