Regency Mines confirms the sale of its remaining direct interest in the Tenements, comprising its Fraser Range Project in Western Australia, to Ram Resources Ltd for AU$100,000.
- Regency surrenders conversion rights of its remaining 4% direct interest in Tenements into Ram shares for AUD 100,000 cash
- Carrying cost of AUD 3,906 in Regency audited accounts at 30 June 2015
- Additional consideration to Regency of 16,666,666 four year options to buy Ram shares at AUD 0.006 per share
- Regency retains performance shares and a 1% gross revenue royalty interest in Tenements
- Regency has first right of refusal in event of disposal of Tenements.