Karora Resources sells its remaining 28% stake in Dumont Nickel
Karora Resources sells its remaining 28% stake in Dumont Nickel Project
themarketsignal.com/Free-Report/KRR
Karora Resources Inc. (TSX:KRR) was amongst top gainers in yesterday’s trading session gaining 19.17%. The company’s previously announced common shares consolidation became into effect on July 31 based on one common share after consolidation for every 4.5 commo9n shares before consolidation. Before the consolidation, the company issued around 648.7 million common shares, and following the effective consolidation date around 144.2 million common shares shall be issued.
Also, the company has reached an agreement to sell its 28% remaining stake in Dumont Nickel Project for gross proceeds of around $48 million to private funds advised by Waterton Global Resource Management Inc. following closing the company will receive around $10.7 million which will comprise $7.4M from Waterton Global for the stake and a refund of $3.3 million of Karora shares held in the JV. Following sales or monetization, the company will receive 15% of the net proceeds from any deal adding up to around $40.2 million.
themarketsignal.com/Free-Report/KRR
Karora Resources Inc. (TSX:KRR) was amongst top gainers in yesterday’s trading session gaining 19.17%. The company’s previously announced common shares consolidation became into effect on July 31 based on one common share after consolidation for every 4.5 commo9n shares before consolidation. Before the consolidation, the company issued around 648.7 million common shares, and following the effective consolidation date around 144.2 million common shares shall be issued.
Also, the company has reached an agreement to sell its 28% remaining stake in Dumont Nickel Project for gross proceeds of around $48 million to private funds advised by Waterton Global Resource Management Inc. following closing the company will receive around $10.7 million which will comprise $7.4M from Waterton Global for the stake and a refund of $3.3 million of Karora shares held in the JV. Following sales or monetization, the company will receive 15% of the net proceeds from any deal adding up to around $40.2 million.