StratMin acquisition of Signature Gold a step closer

StratMin Global Resources’ acquisition of Signature Gold was one step closer on Tuesday, with shareholders in Signature being notified of the proposal.

The AIM-traded firm said that, further to its announcement on 2 February 2017, it could confirm that Signature Gold sent details of the proposed scheme of arrangement under Australian law to its shareholders in order to facilitate the proposed acquisition of Signature by StratMin.

“As stated in the announcement, the acquisition of Signature by StratMin will be subject to the publication of a new AIM Admission Document, approval by the company's shareholders at a general meeting and admission to trading on AIM of the shares of the enlarged group,” StratMin’s board explained.

“The transaction will be accompanied by a fundraising of new equity.”

StratMin said it could also confirm receipt of the AUD 1.185m from Bass Metals under their early settlement agreement, in accordance with an announcement on 7 March 2017.