A little bit of history on the purchase of Palm Springs. Since 1997, Dr Tunks noted Palm Springs had been in private hands and the available data on the project had to be identified in paper archives.As part of the acquisition, Meteoric will purchase 100% of Horrocks Enterprises and Kimberly Resources – the project’s current owners.In consideration for the assets, Meteoric will issue the vendors $1 million in cash and shares – comprising $750,000 cash and 12.5 million shares at $0.02 each.To fund the acquisition, Meteoric is undertaking a $1.44 million placement via the issue of 90 million shares at $0.016.
MEI Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
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