News: VML Shenghe Resources unit to acquire new shares in Australia's Vital Metals, page-16

Thanks @Zhc003

The agreement stipulates that Shenghe Singapore's share subscription will be conducted in two phases. The first phase of subscription for additional issuance of VML Company ordinary shares, accounting for 9.99% of all issued shares of VML after the issuance, the subscription price is AUD 0.01 per share, and the total subscription amount is approximately AUD 5.9 million.

If VML conducts additional equity financing at the same time as this subscription, the subscription The amount will be adjusted accordingly to satisfy Shenghe Singapore's holding of 9.99% of all issued shares of VML after the additional issuance; in the second phase, provided that Shenghe Singapore exercises its subscription option and the VML shareholders' meeting approves and other prerequisites are met, The subscription for the additional ordinary shares issued by VML Company accounts for 8.2% of the total issued shares of VML Company after the additional issuance.

The subscription price is AUD 0.015 per share, and the total subscription amount is approximately AUD 8.9 million. Shenghe Singapore can subscribe after the first phase is completed. The option to subscribe for the second phase of additional shares can be exercised at any time within 12 months. After the completion of the second phase of share subscription, Shenghe Singapore will hold 18.2% of all issued shares of VML

So: After the completion of this equity subscription, Shenghe Singapore will hold 18.2% of all issued shares of VML

My Comment: what a joke really, look at the prices they are getting it for and this will become a controlling stake (my thoughts)

This is a bit more interesting:
The "Term Sheet" stipulates that, subject to the fulfillment of prerequisites, Shenghe Singapore will acquire 50% of the shares of Kisaki Mining Ltd (hereinafter referred to as "Kisaki", the applicant for the mining license) for a cash consideration of up to US$1.5 million, thereby indirectly obtaining 50% of the equity of the Wigu Hill project (not counting the 16% equity dilution of the Tanzania government), and has the right to choose to complete the pre-feasibility study (phase 2) and deterministic feasibility study (phase 3) of the Wigu Hill project Increase the equity stake in the Wigu Hill project to 60% (Phase 2) and 75% (Phase 3) (not counting the 16% equity dilution of the Tanzanian government.

My Comment: Controlling stakes are in play

Go China GO

as usual