https://ceo.ca/@accesswire/eco…uisition-of-royalty-e96e8
Ecora (LSE:ECOR)(TSX:ECOR) announces that it has entered into an agreement to acquire a 0.85% Gross Revenue Royalty ("GRR") over the Phalaborwa Rare Earths Project ("Phalaborwa" or the "Project") located in South Africa for a total cash consideration of US$8.5 million.
In connection with the royalty acquisition and in addition to the cash consideration, Ecora has subscribed for 10,442,427 new ordinary shares in Rainbow Rare Earths Ltd ("Rainbow"), the majority owner of the Phalaborwa project, for US$1.5 million in cash. Rainbow is listed on the London Stock Exchange (LSE: RBW).
The investment represents Ecora's first rare earth exposure, and is in-line with the Group's stated strategy of further diversifying and growing its portfolio of future facing commodity royalties over high quality operations and projects.
Rainbow Rare Earths (RBW.L) steigen auf dem aktuellen Seltene-Erden-Hype mit und
ziehen Ecora Resources mit nach oben.
saludos