SolGold PLC Announces Further Investment from Jiangxi Copper
SolGold (LSE:SOLG & TSX:SOLG) has announced a significant investment from Jiangxi Copper, with its subsidiary SolGold Canada agreeing to sell 157,141,000 ordinary shares at US$0.115 per share, raising approximately US$18 million. The transaction price represents a 45% premium to the closing middle-market share price on March 11, 2025.
Following the investment, Jiangxi's ownership in SolGold will increase from 6.95% (208,616,587 shares) to 12.19% (365,757,587 shares). Notably, no new shares are being issued as part of this transaction, maintaining the company's total issued share capital.
As part of the agreement, until March 2027, Jiangxi may provide technical consulting services for SolGold's Cascabel Project in Ecuador at no cost, unless otherwise agreed. The investment's closing remains subject to customary conditions and regulatory approval from Chinese authorities.
SolGold (LSE:SOLG & TSX:SOLG) ha annunciato un investimento significativo da parte di Jiangxi Copper, con la sua controllata SolGold Canada che ha concordato di vendere 157.141.000 azioni ordinarie a 0,115 USD per azione, raccogliendo circa 18 milioni di USD. Il prezzo della transazione rappresenta un premio del 45% rispetto al prezzo di chiusura del mercato azionario del 11 marzo 2025.
Dopo l'investimento, la partecipazione di Jiangxi in SolGold aumenterà dal 6,95% (208.616.587 azioni) al 12,19% (365.757.587 azioni). È importante notare che non verranno emesse nuove azioni come parte di questa transazione, mantenendo il capitale sociale totale emesso dell'azienda.
Come parte dell'accordo, fino a marzo 2027, Jiangxi potrà fornire servizi di consulenza tecnica per il Progetto Cascabel di SolGold in Ecuador senza alcun costo, salvo diverso accordo. La chiusura dell'investimento rimane soggetta a condizioni abituali e all'approvazione normativa da parte delle autorità cinesi.
SolGold (LSE:SOLG & TSX:SOLG) ha anunciado una inversión significativa por parte de Jiangxi Copper, con su subsidiaria SolGold Canada acordando vender 157.141.000 acciones ordinarias a 0,115 USD por acción, recaudando aproximadamente 18 millones de USD. El precio de la transacción representa un premio del 45% sobre el precio de cierre del mercado de acciones del 11 de marzo de 2025.
Tras la inversión, la participación de Jiangxi en SolGold aumentará del 6,95% (208.616.587 acciones) al 12,19% (365.757.587 acciones). Es notable que no se emitirán nuevas acciones como parte de esta transacción, manteniendo el capital social total emitido de la empresa.
Como parte del acuerdo, hasta marzo de 2027, Jiangxi podrá proporcionar servicios de consultoría técnica para el Proyecto Cascabel de SolGold en Ecuador sin costo alguno, a menos que se acuerde lo contrario. El cierre de la inversión sigue sujeto a condiciones habituales y a la aprobación regulatoria de las autoridades chinas.
SolGold (LSE:SOLG & TSX:SOLG)는 Jiangxi Copper의 중요한 투자를 발표했으며, 그 자회사인 SolGold Canada가 주당 0.115달러에 157,141,000주를 판매하기로 합의하여 약 1,800만 달러를 모금했습니다. 거래 가격은 2025년 3월 11일의 종가에 비해 45% 프리미엄을 나타냅니다.
투자 이후 Jiangxi의 SolGold 소유 비율은 6.95%(208,616,587주)에서 12.19%(365,757,587주)로 증가합니다. 이 거래의 일환으로 새로운 주식이 발행되지 않으며, 회사의 총 발행 주식 자본은 유지됩니다.
계약의 일환으로, Jiangxi는 2027년 3월까지 솔골드의 에콰도르 카스카벨 프로젝트에 대해 비용 없이 기술 자문 서비스를 제공할 수 있습니다. 투자 완료는 관례적인 조건과 중국 당국의 규제 승인을 조건으로 합니다.
SolGold (LSE:SOLG & TSX:SOLG) a annoncé un investissement significatif de Jiangxi Copper, avec sa filiale SolGold Canada convenant de vendre 157.141.000 actions ordinaires à 0,115 USD par action, levant environ 18 millions USD. Le prix de la transaction représente une prime de 45% par rapport au prix de clôture du marché des actions du 11 mars 2025.
Suite à cet investissement, la participation de Jiangxi dans SolGold passera de 6,95% (208.616.587 actions) à 12,19% (365.757.587 actions). Il est à noter qu'aucune nouvelle action n'est émise dans le cadre de cette transaction, maintenant ainsi le capital social total émis de l'entreprise.
Dans le cadre de l'accord, jusqu'en mars 2027, Jiangxi pourra fournir des services de conseil technique pour le projet Cascabel de SolGold en Équateur sans frais, sauf accord contraire. La clôture de l'investissement reste soumise à des conditions habituelles et à l'approbation réglementaire des autorités chinoises.
SolGold (LSE:SOLG & TSX:SOLG) hat eine bedeutende Investition von Jiangxi Copper angekündigt, wobei deren Tochtergesellschaft SolGold Canada vereinbart hat, 157.141.000 Stammaktien zu einem Preis von 0,115 USD pro Aktie zu verkaufen, was etwa 18 Millionen USD einbringt. Der Transaktionspreis stellt eine 45%ige Prämie gegenüber dem Schlusskurs am 11. März 2025 dar.
Nach der Investition wird Jiangxis Anteil an SolGold von 6,95% (208.616.587 Aktien) auf 12,19% (365.757.587 Aktien) steigen. Bemerkenswert ist, dass im Rahmen dieser Transaktion keine neuen Aktien ausgegeben werden, was das gesamte ausgegebene Aktienkapital des Unternehmens unverändert lässt.
Im Rahmen der Vereinbarung kann Jiangxi bis März 2027 technische Beratungsdienste für das Cascabel-Projekt von SolGold in Ecuador kostenlos anbieten, es sei denn, es wird etwas anderes vereinbart. Der Abschluss der Investition steht unter dem Vorbehalt üblicher Bedingungen und der Genehmigung durch die chinesischen Behörden.
- Secured US$18 million investment at 45% premium to market price
- No shareholder dilution as no new shares are being issued
- Free technical consulting services from Jiangxi until March 2027
- Strategic partnership with major copper producer strengthened
- Company selling treasury shares acquired from Cornerstone acquisition
- Increased influence of single investor (Jiangxi) with 12.19% ownership stake
BISHOPSGATE, LONDON / ACCESS Newswire / March 12, 2025 / SolGold plc (LSE:SOLG) & (TSX:SOLG) is pleased to announce that its wholly-owned subsidiary, SolGold Canada Inc., has entered into a share purchase agreement pursuant to which it has agreed to sell 157,141,000 ordinary shares of SolGold ("Owned Shares") at a price of US
The price represents a premium of approximately
The Owned Shares were acquired by the Company pursuant to the acquisition of Cornerstone Capital Resources Inc. (now known as SolGold Canada Inc.) (see announcement dated 7 October 2022), effective 24 February 2023. Therefore, no new shares of SolGold have been issued in connection with the Investment and the Company's total issued share capital remains unchanged ("Ordinary Shares").
Jiangxi currently owns 208,616,587 Ordinary Shares in SolGold, representing
Until March 2027, Jiangxi may provide SolGold with technical consulting services as required, subject to mutual agreement, with respect to the Company's world-class Cascabel Project in Ecuador. Jiangxi will not charge the Company, unless otherwise agreed by the parties, for any of its costs associated with this technical cooperation.
Chief Executive Officer, Dan Vujcic commented:
"As we endeavour to re-shape and streamline the SolGold investment proposition this investment by Jiangxi, at a substantial premium to Monday's closing price, is a powerful endorsement towards the intrinsic value embedded in SolGold.
The proceeds will materially strengthen our balance sheet and support current efforts to unlock further value for shareholders.
SolGold is very fortunate to have multiple high-quality shareholders and financiers who are willing and able to assist the Company in progressing Cascabel and its highly prospective exploration portfolio."
Closing of the Investment is subject to customary conditions precedent and receipt of regulatory approval from the relevant authorities in the People's Republic of China.
This announcement was approved for release by Dan Vujcic - Chief Executive Officer.
The information contained within this Announcement is deemed by SolGold plc to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018 ("MAR").
CONTACTS
Dan Vujcic | Tel: +44 (0) 20 3807 6996 |
Tavistock (Media) | Tel: +44 (0) 20 7920 3150 |
ABOUT SOLGOLD
SolGold is a leading resources company focused on the discovery, definition and development of world-class copper and gold deposits and continues to strive to deliver objectives efficiently and in the interests of shareholders.
SolGold completed and released a staged development plan Pre Feasibility Study on 16 February 2024. The study, completed at US
On 15 July 2024, SolGold announced a gold stream agreement with Franco Nevada and Osisko Royalties (the "Streamers") pursuant to which the Streamers would pay US
SolGold continues to advance de-risking programs, permitting and financing discussions and to reevaluate the project at recent consensus prices for copper and gold.
On 28 October 2024, SolGold appointed G-Mining Services to be the Project Manager for the Feasibility Study.
The Company operates with transparency and in accordance with international best practices. SolGold is committed to delivering value to its shareholders while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace, and minimizing environmental impact.
SolGold is listed on the London Stock Exchange and Toronto Stock Exchange (LSE/TSX: SOLG).
See www.solgold.com.au for more information. Follow us on X @SolGold_plc.
Qualified Person
The scientific and technical disclosure included in this news release has been reviewed and approved by Mr Santiago Vaca (M.Sc. P.Geo.), Chief Geologist for the Cascabel project, a Qualified Person as defined under National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
The basis for the scientific and technical information included in this news release is a technical report dated 8 March 2024 and titled "NI 43-101 Technical Report on Pre-feasibility Study for the Cascabel Project, Imbabura Province, Ecuador" (the "PFS Technical Report"), which can be found on the Company's website at https://solgold.com.au/projects/ecuador/cascabel-project/ and on SEDAR+ under the Company's issuer profile at www.sedarplus.ca. Readers are encouraged to read the PFS Technical Report in its entirety. The PFS Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context.
CAUTIONARY NOTICE
News releases, presentations and public commentary made by SolGold plc (the "Company") and its Officers may contain certain statements and expressions of belief, expectation or opinion which are forward looking statements, and which relate, inter alia, to interpretations of exploration results to date and the Company's proposed strategy, plans and objectives or to the expectations or intentions of the Company's Directors, including the plan for developing the Project currently being studied as well as the expectations of the Company as to the forward price of copper. Such forward-looking and interpretative statements involve known and unknown risks, uncertainties, and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Company to be materially different from such interpretations and forward-looking statements.
Accordingly, the reader should not rely on any interpretations or forward-looking statements, and save as required by the exchange rules of the TSX and LSE or by applicable laws, the Company does not accept any obligation to disseminate any updates or revisions to such interpretations or forward-looking statements. The Company may reinterpret results to date as the status of its assets and projects changes with time expenditure, metals prices and other affecting circumstances.
This release may contain "forward-looking information". Forward-looking information includes, but is not limited to, statements regarding the Company's plans for developing its properties. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".
Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: transaction risks; general business, economic, competitive, political and social uncertainties; future prices of mineral prices; accidents, labour disputes and shortages and other risks of the mining industry. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, risks relating to the ability of exploration activities (including assay results) to accurately predict mineralization; errors in management's geological modelling and/or mine development plan; capital and operating costs varying significantly from estimates; the preliminary nature of visual assessments; delays in obtaining or failures to obtain required governmental, environmental or other required approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; the global economic climate; fluctuations in commodity prices; the ability of the Company to complete further exploration activities, including drilling; delays in the development of projects; environmental risks; community and non-governmental actions; other risks involved in the mineral exploration and development industry; the ability of the Company to retain its key management employees and skilled and experienced personnel; and those risks set out in the Company's public documents filed on SEDAR+ at www.sedarplus.ca. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
The Company and its officers do not endorse, or reject or otherwise comment on the conclusions, interpretations or views expressed in press articles or third-party analysis.
SolGold plcUK Company No. 5449516ARBN117 169 856Email:info@solgold.com.auWebsite:www.solgold.com.au
Corporate Postal Office:PO Box 7059, Cloisters Square PO, Perth, WA 6850 Australia
Registered office:1 Cornhill, London, EC3V 3ND, UKPhone:+44 (0) 20 3807 6996
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
SOURCE: SolGold PLC
View the original press release on ACCESS Newswire
FAQ
What is the premium Jiangxi Copper is paying for SLGGF shares in the March 2025 investment?
How much will Jiangxi Copper's ownership stake in SLGGF increase after the investment?
What technical support will Jiangxi provide for SLGGF's Cascabel Project?
How will SLGGF use the US$18 million investment from Jiangxi Copper?
