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Sable Acquires 4% Stake in Global Initiatives for $4 Million
Apr. 11, 2013 03:07PM PST
Precious Metals InvestingMining Weekly reported that Sable Platinum has entered into an agreement to buy a 4% interest in Global Initiatives for the amount of $4 million. Moreover, the company has been given the option to acquire 22% additional interest in the company in increments of 6 percent, 5 percent and 11 percent.
Mining Weekly reported that Sable Platinum has entered into an agreement to buy a 4% interest in Global Initiatives for the amount of $4 million. Moreover, the company has been given the option to acquire 22% additional interest in the company in increments of 6 percent, 5 percent and 11 percent.
As quoted in the market news:
The acquisition was subject to all requisite regulatory approvals being obtained; the placement by Sable of the requisite number of Sable shares required to raise sufficient capital to discharge the purchase price; the completion of a legal, financial and technical due diligence by Sable on Global and the Selebi Phikwe project; and the completion of comprehensive sale of shares and shareholders agreements with Global.