Belmore Resources (Holdings) Plc announces that its has reached agreement with Central Mining Finance Limited (“CMF”) whereby the Option Agreement between its wholly owned subsidiary, Belmore Resources Limited, and CMF over Prospecting Licences 3787, 3788, 3789, 3863, 3508 and 3643 be terminated and, in consequence, the Joint Venture with CMF has been dissolved. In consideration thereof, Belmore has allotted 1,000,000 new ordinary shares of €0.01 each to CMF.
As a result of this agreement Belmore Resources Limited has increased its interest in these licences from circa 70% to 100%.
The issued share capital of Belmore after this transaction is 32,390,200 ordinary shares.
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