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Ann: SXA: SXA Completes Serowe CSG Acquisition, page-4

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Ginnyvks

59 Posts.

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06/03/18

16:57

Post #: 31565533
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Originally posted by Mcdunk ↑

from Raven

RAVEN ENERGY LIMITED 6 March 2018 RAVEN COMPLETES SALE OF SEROWE REGION LICENCES Raven Energy Limited (Raven or the Company) is pleased to announce that it has completed its sale of its interest in prospecting licences 352/2008 and 353/2008 (Serowe Region Licences) to Strata-X Australia Pty Ltd (SXA Australia) and its subsidiary, Sharpay Enterprises Pty Ltd (Sharpay). As previously announced, the Company agreed to sell the Serowe Region Licences for the following consideration: 1) a deposit of A$25,000; 2) A$125,000 in cash payable on completion of the share sale agreement (Completion); 3) A$200,000, payable within 60 days of Completion; and 4) A$200,000, payable within 135 days of Completion. The payments in items 1 and 2 have already been received by the Company. Additionally, the Company has been granted a 3.5% overriding royalty interest over the Serowe Region Licences net to the Company’s 25% interest. The Company will remain in a trading halt pending the release of an announcement with respect to the status of its operations in Botswana. Yours faithfully, Nathan Featherby Executive Chairman

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We're still in a trading halt. See the last few sentences.

REL Price at posting: 0.2¢ Sentiment: Hold Disclosure: Held
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