Smartkem to acquire Ferrox Critical Minerals for $125 million
(NASDAQ:SMTK) announced today that it has entered into a definitive agreement to acquire Ferrox Critical Minerals, a critical minerals developer with assets in South Africa’s Limpopo Province. Under the terms of the agreement, Ferrox shareholders will receive $125 million in consideration, reduced by existing debt obligations Ferrox owes to Smartkem, according to a press release statement.
Reported by 1 outlet — Investing.com · Company News. See all sources ↓
(NASDAQ:SMTK) announced today that it has entered into a definitive agreement to acquire Ferrox Critical Minerals, a critical minerals developer with assets in South Africa’s Limpopo Province. Under the terms of the agreement, Ferrox shareholders will receive $125 million in consideration, reduced by existing debt obligations Ferrox owes to Smartkem, according to a press release statement. The consideration will be paid entirely in newly issued Smartkem common stock with no cash component. The number of shares to be issued will be determined by the volume weighted average price of Smartkem common stock over the 30 trading days ending immediately prior to closing.
Read the full report at Investing.com · Company News ↗
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- (NASDAQ:SMTK) announced today that it has entered into a definitive agreement to acquire Ferrox Critical Minerals, a critical minerals developer with assets in South Africa’s Limpopo Province. Under the terms of the agreement, Ferrox shareholders will receive $125 million in consideration, reduced by existing debt obligations Ferrox owes to Smartkem, according to a press release statement.
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Smartkem to acquire Ferrox Critical Minerals for $125 million
Sources1TypeCoverageInvesting.com · Company News