Minerals Corporation (ASX:MSC) has received a notice of...

Minerals Corporation (ASX:MSC) has received a notice of termination of the Share Sale Agreements with PRM Cloud Solutions and the vendors.

Completion of the SSA was subject to certain conditions to be satisfied no later than 1 July 2014.

As at the end date, completion of the SSA remained conditional on the company raising the Minimum Subscription under the Public Offer.

The SSA will terminate effective 4 July 2014 and, as the company does not consider that the outstanding condition to completion will be satisfied prior to that date, the company is withdrawing the Public Offer made under the Prospectus and will return all application money received as soon as practicable.

Minerals Corporation maintains its interest in its existing Skardon River kaolin assets in Queensland and is involved in ongoing discussions with its joint venture partner.

It will seek re-admission to the ASX and will update the market in due course.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.