Magna Mining Provides Update on Acquisition of Producing Copper Mine in Sudbury from KGHM International Ltd.
Magna Mining (TSXV: NICU, OTCQB: MGMNF) has provided an update on its previously announced acquisition of base metals assets in the Sudbury Basin from KGHM International The company reports that since signing the definitive share purchase agreement on September 11, 2024, both parties and their advisors have been actively working to satisfy all conditions precedent, including obtaining necessary regulatory and third-party approvals. Magna Mining expresses satisfaction with the progress and aims to close the Transaction around January 31, 2025.
Magna Mining (TSXV: NICU, OTCQB: MGMNF) ha fornito un aggiornamento riguardo all'acquisizione precedentemente annunciata di beni relativi ai metalli di base nel Bacino di Sudbury da KGHM International. L'azienda riporta che, dalla firma del contratto definitivo di acquisto delle azioni l'11 settembre 2024, entrambe le parti e i loro consulenti stanno lavorando attivamente per soddisfare tutte le condizioni necessarie, inclusi l'ottenimento delle approvazioni normative e di terze parti. Magna Mining esprime soddisfazione per i progressi e punta a concludere l'operazione intorno al 31 gennaio 2025.
Magna Mining (TSXV: NICU, OTCQB: MGMNF) ha proporcionado una actualización sobre su adquisición previamente anunciada de activos de metales base en la Cuenca de Sudbury de KGHM International. La empresa informa que, desde la firma del acuerdo de compra de acciones definitivo el 11 de septiembre de 2024, ambas partes y sus asesores han estado trabajando activamente para cumplir con todas las condiciones previas, incluyendo la obtención de aprobaciones regulatorias y de terceros necesarias. Magna Mining expresa su satisfacción con el progreso y tiene como objetivo cerrar la Transacción alrededor del 31 de enero de 2025.
마그나 마이닝 (TSXV: NICU, OTCQB: MGMNF)는 KGHM International으로부터 써드베리 분지의 기초 금속 자산 인수에 대한 업데이트를 제공했습니다. 2024년 9월 11일에 최종 주식 구매 계약에 서명한 이후, 양 당사자와 그들의 자문은 필요한 규제 및 제3자 승인을 포함하여 모든 선행 조건을 충족하기 위해 적극적으로 노력하고 있다고 보고했습니다. 마그나 마이닝은 진행 상황에 대한 만족감을 표명하며, 2025년 1월 31일 경에 거래를 완료하는 것을 목표로 하고 있습니다.
Magna Mining (TSXV: NICU, OTCQB: MGMNF) a fourni une mise à jour sur son acquisition précédemment annoncée d'actifs en métaux de base dans le bassin de Sudbury auprès de KGHM International. L'entreprise indique que depuis la signature de l'accord définitif d'achat d'actions le 11 septembre 2024, les deux parties et leurs conseillers travaillent activement à satisfaire toutes les conditions préalables, y compris l'obtention des approbations réglementaires et de tiers nécessaires. Magna Mining exprime sa satisfaction quant aux progrès réalisés et vise à finaliser la transaction aux alentours du 31 janvier 2025.
Magna Mining (TSXV: NICU, OTCQB: MGMNF) hat ein Update zu seiner zuvor angekündigten Akquisition von Basismetallvermögen im Sudbury-Becken von KGHM International bereitgestellt. Das Unternehmen berichtet, dass beide Parteien und ihre Berater seit der Unterzeichnung des endgültigen Aktienkaufvertrages am 11. September 2024 aktiv daran arbeiten, alle erforderlichen Bedingungen zu erfüllen, einschließlich der Erlangung der erforderlichen Genehmigungen von Aufsichtsbehörden und Dritten. Magna Mining äußert seine Zufriedenheit mit dem Fortschritt und plant, die Transaktion um den 31. Januar 2025 abzuschließen.
- Transaction progressing as planned towards completion
- On track for targeted closing date of January 31, 2025
- All regulatory processes proceeding without reported issues
- None.
Sudbury, Ontario--(Newsfile Corp. - January 9, 2025) - Magna Mining Inc. (TSXV: NICU) (OTCQB: MGMNF) (FSE: 8YD) ("Magna" or the "Company") is pleased to provide an update regarding its previously announced agreement to acquire a portfolio of base metals assets located in the Sudbury Basin (the "Transaction") from an affiliate of KGHM International Ltd. ("KGHM"), as previously announced in the Company's news release dated September 12, 2024. Since entering into the definitive share purchase agreement on September 11, 2024 (the "SPA"), the Company, KGHM and their respective advisors have been working diligently towards the satisfaction of all conditions precedent under the SPA including obtaining all required regulatory and third-party consents, approvals and waivers. The Company is pleased with the progress made to date and is targeting to close the Transaction on or about January 31, 2025.
About Magna Mining Inc.
Magna Mining is an exploration and development company focused on nickel, copper and PGM projects in the Sudbury Region of Ontario, Canada. The Company's flagship assets are the past producing Shakespeare and Crean Hill Mines. The Shakespeare Mine is a feasibility stage project which has major permits for the construction of a 4,500 tonne per day open pit mine, processing plant and tailings storage facility and is surrounded by a contiguous 180km2 prospective land package. Crean Hill is a past producing nickel, copper and PGM mine with a technical report dated July 2023. Additional information about the Corporation is available on SEDAR+ (www.sedarplus.ca) and on the Corporation's website (www.magnamining.com).
For further information on this news release, visit www.magnamining.com or contact:
Jason Jessup
Chief Executive Officer
or
Paul Fowler, CFA
Senior Vice President
705-482-9667
Email: info@magnamining.com
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections, and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance including in respect of the timing and ability of the Company to complete the Transaction within the proposed timeline,; (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, the parties cannot assure shareholders and prospective purchasers of securities that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236561
FAQ
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