Mike Struthers, CEO Empire Metals (EEE.L) Interview
Sale of Bolnisi Copper and Gold Project in Georgia for CAD 7 Million, Board and Management Changes
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\n\n\n\nEmpire Metals Limited, the AIM-listed mineral resource exploration and development company, is pleased to announce that it has concluded a definitive and binding Sale and Purchase Agreement (subject to certain conditions) for the sale of the Company\u2019s wholly-owned subsidiary GMC Investments Limited (\u2018GMCIL\u2019), to Candelaria Mining Corporation (TSXV: CAND) (\u2018Candelaria\u2019, \u2018CAND\u2019 or the \u2018Buyer\u2019).
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\n For an all-equity total consideration of 7 million Canadian dollars (\u201cCAD\u201d), with an initial payment of CAD 2 million (the \u2018Initial Consideration\u2019) plus additional payments subject to certain milestones being achieved in Georgia (altogether \u201cthe Sale\u201d). GMCIL is the owner of a 50% interest in JSC Georgian Copper and Gold (\u2018GCG\u2019), which in turn holds the rights to copper-gold projects under a 30-year mining concession in Georgia.\xa0
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