News: NZC Nzuri Copper Updates On Proposed Scheme Of Arrangement With Xuchen International

Nov 26 (Reuters) - Nzuri Copper Ltd (NZC) :

• UPDATES ON PROPOSED SCHEME OF ARRANGEMENT WITH XUCHEN INTERNATIONAL LIMITED
• NZURI UNDERSTANDS THAT PRC REGULATORY APPROVAL HAS NOT YET BEEN RECEIVED BY XUCHEN.
• CO ADVISED BY XUCHEN THAT FOR COMMERCIAL REASONS, ITS PREFERENCE IS TO FUND SCHEME CONSIDERATION BY WAY OF A THIRD-PARTY LOAN
• NZURI REMAINS IN NEGOTIATIONS WITH XUCHEN FOR EXTENSION OF TIMETABLE AS REQUESTED BY XUCHEN
• NZURI REMAINS IN NEGOTIATIONS WITH XUCHEN FOR PROVISION OF ADDITIONAL LOAN FUNDING BY XUCHEN TO NZURI TO ACCOMMODATE FURTHER DELAY