Marula Mining PLC
(“Marula’’ or the “Company”)
Update on Increased Shareholding in Blesberg Lithium and Tantalum Mine
25 November 2022
Marula Mining (AQSE: MARU) an African focused mining and development investing company, is pleased to announce that further to the announcement made by the Company on 27 October 2022, it has elected to increase its shareholding in the Blesberg Lithium and Tantalum Mine in
Marula has executed a formal share sale and subscription agreements and associated acquisition documentation (“Acquisition Agreement’) under which, the Company’s wholly owned South African subsidiary, Marula Lithium Mining South Africa (Pty) Limited (“MLMSA”), will conditionally acquire the outstanding 95% of the share capital of Southern African Lithium and Tantalum Mining Proprietary Limited (“SALT”), the holder of the licences that make up the Blesberg Mine.
The Acquisition is subject to receipt of regulatory approvals in
Under the terms of the Acquisition Agreement, the Company agreed to increase its shareholding in Blesberg from 5% to 100% in SALT for payment of cash proceeds of
Jason Brewer and Hendrik Adriaan van Zyl have been appointed as directors of SALT.
Jason Brewer, Marula Mining PLC CEO, said:
"I'm delighted to confirm Marula's new conditional holding in the Blesberg mine, to acknowledge the progress we're making, and to see that the administrative matters surrounding our acquisition of the 100% interest in the Blesberg Mine has progressed at such a rapid and effective pace. I am confident that with the assistance of our lawyers and consultants in
“It is also great to see Marula’s shareholders support and approval in steering this transaction forward at the recent AGM, approving the expanded strategy that now allows us to hold majority and 100% interest in projects such as Blesberg.
"The recently announced
“There is no better time to have Blesberg move ahead in operations than during a time of strong lithium demand in various sectors and also at a time when we continue to strengthen our battery metals investing strategy by securing and exploring more battery metals commodities in
The Directors of Marula are responsible for the contents of this announcement. This announcement contains inside information for the purposes of
About Marula Mining
Marula Mining (AQSE: MARU) is an African focused battery metals investment and exploration company and has interests in several high value mine projects in
Marula aims at identifying and investing in advanced and high-value mining projects throughout East, Central and
Marula’s shares are quoted on the AQUIS Stock Exchange (AQSE) and is exploring opportunities to dual list on the London Stock Exchange’s AIM Market and Kenya’s Nairobi Securities Exchange.
For enquiries contact:
|Marula Mining PLC
Chief Executive Officer
Faith Kinyanjui Mumbi
Email : firstname.lastname@example.org
Email : email@example.com
|AQSE Corporate Adviser
Cairn Financial Advisers LLP,
Liam Murray / Ludovico Lazzaretti
|+44 (0)20 7213 0880|
Tom Curran / Thomas Smith
|+44 (0) 20 7392 1568|
|Financial PR and IR
Tim Blythe / Megan Ray / Said Izagaren
|+44 (0)20 7138 3204|
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identi?ed by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements re?ect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.