Source - Alliance News

Celsius Resources Ltd - copper-gold exploration and development company in the Philippines, Namibia and Australia - Further to announcement on May 15, company says it has extended period of exclusivity signed with Silvercorp Metals Inc to July 31. Explains delays have largely been attributed to the parties dealing with the various legal jurisdictions where they are listing and currently operate.

In May, Celsius said Silvercorp has agreed to buy it, in exchange for Silvercorp shares, with Celsius shareholders set to receive shares in a new exploration company if the acquisition proceeds.

Celsius said Silvercorp has proposed to acquire all its shares for A$0.03 per share, or £0.016. The consideration in exchange would comprise 90% Silvercorp shares and 10% cash.

Further, Celsius announces the issue of 2.5 million shares at A$0.012 (around 0.6 pence) per share.

Current stock price: 1.15 pence

12-month change: up 28%

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