MetalsTech spinning off lithium assets into new company : vi

MetalsTech spinning off lithium assets into new company
Stockhead
4 days ago
© Stockhead Australia
lithium assets
MetalsTech (ASX:MTC) has opted to take the spin-off route to provide its high-grade lithium assets in Quebec, Canada, the attention they deserve at a time when battery metals are booming.
Under the spin-off, the Cancet, Adina and Sirmac-Clapier lithium projects will form the core assets of a new ASX-listed company, allowing MetalsTech to focus on the +1Moz Sturec gold mine in Slovakia.
MTC will receive 22 million shares in the new company and will distribute them on a pro-rata basis to its existing shareholders, who will also have the opportunity to subscribe for more shares in the new company under a $2m priority participation offer.

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