KOPY GOLDFIELDS HAS RECEIVED APPROVAL FOR THE ACQUISITION OF AMUR ZOLOTOKopy Goldfields AB (publ) ("Kopy Goldfields" or the "Company") today announces that Federal Antimonopoly Service of Russia ("FAS") has issued consent for the acquisition of 100% of Amur Gold Company Limited ("Amur Zoloto"). The FAS approval meets the remaining condition for the completion of the conditional reverse takeover, which was announced by the Company on May 29, 2020 (the "Transaction"). Through the Transaction, Kopy Goldfields will add significant gold operations and create a leading Russia-focused Mid-Cap Gold Exploration and Production Group. "We are glad that the transaction develops according to the schedule and look forward to the completion of the transaction soon. By the integration of the companies' operations, the combined company will be characterized by a strong production profile and high-quality exploration and development portfolio, providing us with a stable platform for future growth", said Mikhail Damrin, CEO of Kopy Goldfields.
With the approval from FAS, all main conditions to finalise the Transaction have now been cleared. The Transaction is expected to be completed in or around August 2020.
For further information about the Transaction, reference is made to the announcement on May 29, 2020, the Company Description and the notice and complete proposals for the annual general meeting that are available at the Company's website. For more information, please contact:
Mikhail Damrin, CEO, +7 916 808 12 17, [email protected]
Tim Carlsson, CFO, + 46 702 31 87 01, [email protected]
The following documents can be retrieved from beQuoted
Pressrelease 15 2020 FAS approval eng.pdf About Kopy Goldfields AB
Kopy Goldfields AB (publ), listed on NASDAQ First North Growth Market in Stockholm, is a Swedish gold exploration company operating in the Irkutsk and Amur regions of Russia, which are two of the most gold rich areas in the world. The Company currently holds 12 licenses, grouped into four projects, which entitle the holder to explore for and produce gold. Kopy Goldfield's strategy is to create value by identifying and acquiring high potential gold projects, and then prospecting and exploring them until they reach the stage of being ready to be sold for cash or further developed in cooperation with a partner.
On May 29, 2020 Kopy Goldfields announced that the company had entered into a conditional agreement to acquire Amur Zoloto via a reverse takeover. The Transaction is expected to be completed in or around August 2020.
Kopy Goldfields AB applies International Financial Reporting Standards (IFRS), as approved by the European Union. Hagberg & Aneborn Fondkommission acts as Certified Adviser, contact number: +46 8 408 933 50,
e-mail: [email protected].
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