Winsome Resources

Winsome Resources Limited (ASX: WR1) – Trading Halt

Description

 

The securities of Winsome Resources Limited (‘WR1’) will be placed in trading halt at the request of WR1, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Monday, 11 December 2023 or when the announcement is released to the market.


 

Issued by

 

ASX Compliance


Click here for the full ASX Release

This article includes content from Winsome Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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Restructure of the Renard Option

Restructure of the Renard Option

 
 

Highlights

 
  • Reduction of initial payment upon exercise of the option from C$15 million to C$1 million .
  •  
  • The balance of the Renard consideration payment delayed until 2026 and 2027.
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  • Renard Option restructure preserves shareholder value by deferring material payments by 12 months and extending the payment consideration period to 30 months from exercise.
  •  
  • Option to Acquire the Renard Project extended to 28 February 2025 , at a cost of $2 million .
  •  
  • Extension gives Winsome scope to explore opportunities to bring in a strategic partner in 2025 and assess various commercial and corporate opportunities to reduce the costs associated with the potential acquisition.
  •  

 Lithium explorer and developer Winsome Resources (ASX: WR1) (Winsome or the Company) announces it has agreed to an amended consideration structure with Stornoway Diamonds ( Canada ) Inc. ( Stornoway ) and 11272420 Canada Inc. (together the Vendors) whereby Winsome elects to exercise its exclusive option over the Renard Project (Option) 1

 

 

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