SVM sovereign metals limited
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News: SVM Sovereign Metals Says Rio Tinto To Become A 15% Strategic Investor In Co

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    17/07/23
    11:10
    Post #: 68820058

    July 17 (Reuters) - Sovereign Metals Ltd (SVM) :

    • RIO TINTO TO INVEST A$40.4 MILLION AND BECOME A 15% STRATEGIC INVESTOR IN SOVEREIGN
    • INVESTMENT PROCEEDS WILL BE USED TO ADVANCE KASIYA RUTILE-GRAPHITE PROJECT IN MALAWI
    • RIO ALSO ISSUED WITH 34.5 MILLION OPTIONS TO INCREASE SHAREHOLDING BY ADDITIONAL 4.99% TO POTENTIALLY 19.99% OF CO WITHIN 12 MONTHS
    • SOVEREIGN AND RIO TINTO HAVE ALSO ENTERED INTO AN INVESTMENT AGREEMENT
    • UNDER INVESTMENT AGREEMENT, CO AND RIO TINTO WILL WORK TOGETHER TO QUALIFY KASIYA'S GRAPHITE PRODUCT
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