SHANGHAI, March 12, 2025 (GLOBE NEWSWIRE) -- Jiangxi Copper Company Limited (“JCC”) announced today that its wholly-owned subsidiary Jiangxi Copper (Hong Kong) Investment Company Limited (“JCCHK”, and together with JCC, “Jiangxi”) has entered into a share purchase agreement with SolGold Canada Inc. (“SolGold Canada”), a wholly-owned subsidiary of SolGold plc (“SolGold”), pursuant to which SolGold Canada agreed to sell, and Jiangxi agreed to purchase, 157,141,100 ordinary shares in the capital of SolGold (the “Purchased Shares”) at a price of US$0.115 per Purchased Share, for aggregate consideration of approximately US$18 million (the “Investment”).
Closing of the Investment is subject to customary conditions precedent and receipt of regulatory approval from the relevant authorities in the People’s Republic of China
Jiangxi currently owns 208,616,587 ordinary shares in SolGold, representing 6.95% of SolGold’s issued share capital. Following completion of the Investment, Jiangxi will own 365,757,587 ordinary shares, representing 12.19% of SolGold’s issued share capital.
The aggregate consideration payable for the sale of the Purchased Shares is approximately US$18 million or US$0.115 per Purchased Share, equivalent to approximately C$26 million or C$0.166 per Purchased Share based on the Bank of Canada rate of 1.4451 as of March 11, 2025.
Jiangxi is acquiring the Purchased Shares for investment purposes and in the future, Jiangxi may, from time to time, increase or decrease its investment in SolGold through market transactions, private arrangements, treasury issuances or otherwise.
JCC’s head office is located at No. 7666, Changdong Avenue, Nanchang, Jiangxi Province, People’s Republic of China 330096.
SolGold’s registered office is located at 1 Cornhill, London, EC3V 3ND, United Kingdom.
An early warning report containing additional information with respect to the foregoing matters will be filed under SolGold’s SEDAR+ profile at www.sedarplus.ca. For further information and to obtain a copy of the early warning report, please contact: Wan, Haiping Tel : +86 791 8271 0566.