Kincora Copper (TSXV:KCC) provided an update on the IBEX transaction following sign off from the Mongolian tax authorities.
Kincora Copper (TSXV:KCC) provided an update on the IBEX transaction following sign off from the Mongolian tax authorities. This is a key milestone towards the completion of the proposed mergers for the respective Kincora and IBEX subsidiaries.
As quoted in the press release:
The parties to the IBEX transaction, High Power Ventures Inc., (“HPV”) and Kincora, original tax position have been upheld, with the subsequent administration processes related to closing the transaction ongoing and expected to shortly complete.
Sam Spring, Kincora President and CEO, stated: “It is pleasing to pass this key milestone towards completion of the IBEX transaction and we look forward to providing further details on the Company’s near term strategy in due course.
I would like to thank all involved, including the Mongolian Tax Authority, who ensured this matter was addressed. This milestone supports the transition to the next stages of completing the IBEX transaction.”