Deal Snapshot
CADENCE MINERALS SELLS 42% OF BACANORA MINERALS STAKE FOR GBP 6.23M
Wednesday 13 September 2017

UK-based resources investment company Cadence Minerals plc (AIM: KDNC) has sold approximately 8.9m shares representing 42% of its equity stake in UK-based lithium and rare earth minerals investor Bacanora Minerals Ltd (AIM: REM) (OTC: REMMY) for gross proceeds of GBP 6.23m (USD 8.27m), the company said.
Cadence purchased these shares between June 2013 and September 2014 for GBP 3.56m. The realised gross profit from this sale is GBP 2.67m, or a 75% realised a return on our equity investment. As announced in the cleansing statement on the 21 August 2017, Cadence Minerals was approached by a single strategic investor who was interested in taking a material portion of the total equity stake owned by Cadence in Bacanora.


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Details
Date Published: 13/09/2017
Target: Bacanora Minerals/8.9m shares
Country: UK
Deal Size: 8.27m (USD)
Sector: Metals/Mining
Type: Divestment
Financing: Cash
Status: Closed
Vendor: Cadence Minerals
Buyer:
Comment:
Cadence sells 42% of its stake in Bacanora Minerals

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