This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.
For immediate release
1 September 2021
Galileo Resources Plc
("Galileo" or "the Company")
Update on Sale of Kalahari Copper Belt Licences
to Sandfire Resources Ltd ("Sandfire")
Galileo Resources plc ("Galileo" or the "Company") further to its announcements on 26 January 2021 and 2 August 2012 announces that it has entered into a second variation agreement (the Variation Agreement) with ASX listed Sandfire Resources Limited ( ASX:SFR) ("Sandfire") in relation to its conditional licence sale agreement (the "Licence Sale Agreement") with Sandfire. Unless indicated to the contrary defined terms in Galileo's announcement dated 26 January 2021 in relation to the Licence Sale Agreement have the same meaning.
The Parties have agreed to amend the Licence Sale Agreement to extend the long stop date to 15 September 2021 to facilitate the completion of the processes to obtain Ministerial Consent.
All other conditions under the Licence Sale Agreement, including confirmation that no Competition Approval or ASX and AIM regulatory approvals are required, have been met.
For further information, please contact: Galileo Resources PLC
| Colin Bird, Chairman | Tel +44 (0) 20 7581 4477 |
| Ed Slowey - Technical Director | Tel +353 (0) 872274377 |
| Beaumont Cornish Limited - Nomad Roland Cornish/James Biddle | Tel +44 (0) 20 7628 3396 |
| Novum Securities Limited - Joint Broker Colin Rowbury /Jon Belliss | +44 (0) 20 7399 9400 |
| Shard Capital Partners LLP - Joint Broker Damon Heath | Tel +44 (0) 20 7186 9952 |
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