Anglo Asian Mining plc - Strategic investment in Libero Copper & Gold Corporation
LONDON, Jan. 26, 2022 /CNW/ - Anglo Asian Mining plc ("Anglo Asian"), an AIM listed gold, copper and silver producer primarily focused in Azerbaijan (AIM: AAZ) and Libero Copper & Gold Corporation ("Libero"), a copper exploration company headquartered at Suite 905 – 1111 West Hastings Street, Vancouver BC V6E 2J3 (TSXV: LBC) announce today that Anglo Asian has increased its stake in Libero to approximately 27.07% in the issued and outstanding common shares of Libero on a fully diluted basis by subscribing for 7,000,000 units (each, a "Unit") of Libero at a purchase price of $0.50 per Unit for gross proceeds of $3,500,000 to Libero. Each unit comprises of one common share of Libero (a "Common Share") and one half common share purchase warrant of Libero with an exercise price of $0.75 (a "Warrant" and all of the foregoing being, the "Subscription").
Anglo Asian owned 5,600,000 common shares of the Issuer and 2,800,000 common share purchase warrants of the Issuer prior to the Subscription. Following the Subscription, it is now the beneficial owner of 12,600,000 Common Shares and 6,300,000 Warrants, which together represent approximately 27.07% of the issued and outstanding common shares of the Issuer on a fully diluted basis.
Anglo Asian acquired the Units for investment purposes and it may, depending on market and other conditions, increase or decrease its beneficial ownership of Libero's common shares or warrants, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.
Libero and Anglo Asian entered into a subscription agreement (the "Subscription Agreement") in connection with the Subscription whereby Anglo Asian will receive certain rights once Anglo Asian acquires beneficial ownership of at least 9.9% of the issued and outstanding common shares of Libero (on a non-diluted basis). Such rights include the right to nominate one director to the board of directors of Libero, in accordance with the terms of the Subscription Agreement.
This news release is being issued to comply with National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. An early warning report regarding these transactions has been filed on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com under Libero's issuer profile and may be obtained directly from Anglo Asian upon request at the telephone number below. Anglo Asian's head office is located at 3rd Floor, Tower 2, Hyatt Regency Business Centre, 8 Izmir St, Baku 1065, the Republic of Azerbaijan.
Cautionary Statement Regarding Forward Looking Statements
This news release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as "plans", "expects', "estimates", "intends", "anticipates", "believes" or variations of such words, or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". Forward looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although Anglo Asian believes that the assumptions and factors used in preparing these forward-looking statements are reasonable based upon the information currently available to management as of the date hereof, actual results and developments may differ materially from those contemplated by these statements. Readers are therefore cautioned not to place undue reliance on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed times frames or at all. Except where required by applicable law, Anglo Asian disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Anglo Asian Mining plc
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