01 April 2021
URU Metals Limited
(“URU” or “the Company”)
Result of Annual General Meeting
Disposal of the Company’s Zebediela Nickel Project
URU Metals Limited (AIM: URU), an AIM-quoted resource company is pleased to announce that at the Annual General Meeting of the Company held today all the resolutions were duly passed. Further to the Company’s RNS of 3 March 2021 and as a result of the passing of all resolutions, the disposal of the issued and outstanding share capital of Zebediela Nickel Company (Pty) Ltd. (“ZEB”), which controls the Company’s Zebediela Nickel Project in South Africa (the “Zebediela Project” or the “Project”) to Blue Rhino Capital Corp (“BRC”), a company listed on the TSX Venture Exchange (“TSXV”) has now been approved by shareholders of the Company (the “Disposal”).
Notwithstanding the passing of resolutions, completion of the Disposal is subject to the following remaining conditions inter alia:
- the completion of the consolidation of the share capital of BRC on a 2.3-1 basis;
- receipt of all required shareholder, regulatory and third-party consents, including approval of the TSX Venture Exchange and the approval of the shareholders of BRC for certain matters ancillary to the Disposal; and
- satisfaction of other customary closing conditions.
The approval of BRC’s shareholders for certain matters ancillary to the Disposal is expected to be obtained at a meeting scheduled for 10 a.m. (Vancouver time) 7 April 2021. Completion of the Disposal is expected to occur prior to 30 June 2021. A further announcement will be made by the Company once all remaining conditions are satisfied.
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
For further information, please contact:
URU Metals Limited
(Chief Executive Officer)
+1 416 504 3978
SP Angel Corporate Finance LLP
(Nominated Adviser and Broker)
Ewan Leggat / Charlie Bouverat
+ 44 (0) 203 470 0470