https://www.engineeringnews.co.za

Allegiance makes a play for Canadian firm

16th September 2016

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

Font size: - +

PERTH (miningweekly.com) – ASX-listed junior Allegiance Coal has moved to acquire a private Canadian company in a deal valued at A$1.25-million.

Allegiance told shareholders on Friday that it had entered into a conditional binding agreement to acquire Telkwa Coal, whose sole asset is a farm-in agreement over an advanced coking coal exploration project in British Columbia.

Under the terms of the acquisition, Allegiance would issue 50-million of its own shares, at a price of 2.5c each.

The share issue would be subject to shareholder approval, and would likely be completed by the end of November.

The acquisition is subject to a number of conditions, including Allegiance completing a A$1-million capital raise and the consolidation of Allegiance’s share capital on a five-for-one basis.

Telkwa’s coal project is currently estimated to host a 165-million-tonne resource, of which 89-million tonnes are in the measured category.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Rosond
Rosond

ROSOND provides fast, efficient, safe, and cost-effective drilling and grouting services to mining and exploration industries throughout Africa.

VISIT SHOWROOM 
AirNox Pty Ltd
AirNox Pty Ltd

AirNox (Pty) Ltd is a level 1 BBBEE manufacturer of complete AdBlue® solutions for operators of SCR diesel engines and AUS40 across South Africa...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







301

sq:0.061 1.162s - 140pq - 2rq
Subscribe Now