Update of financing for Kabwe transaction
Shuka Minerals Plc has provided an update on the financing for its acquisition of Leopard Exploration and Mining Limited and the Kabwe Zinc Mine, stating that Gathoni Muchai Investments Limited expects to pay an initial c.$350,000 in the coming days, with the remaining acquisition funds to be paid before the end of November 2025. The company is in regular contact with GMI regarding the fund status, and the LEM vendors remain supportive of the transaction's completion, which is contingent on the full payment of cash consideration, the issuance of consideration shares and warrants, and the transfer of LEM shares.
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Further to recent announcements, Gathoni Muchai Investments Limited ("GMI") has now advised it expects payment from GMI to Shuka of an initial c. $350,000 to be received by the Company in the coming days, with the balance of the funds required to satisfy the consideration due under the Acquisition to be paid to the Company by GMI before the end of November 2025. The Company is in regular contact with GMI regarding the status of funds due. A further announcement will be made
in due course.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.