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Deutsche Rohstoff AG: Almonty announces investment in Woulfe Mining Corp
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0 KommentareDGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
Deutsche Rohstoff AG: Almonty announces investment in Woulfe Mining
Corp
03.06.2015 / 19:00
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Deutsche Rohstoff AG: Almonty announces investment in Woulfe Mining Corp
One of the largest tungsten deposits worldwide/Almonty plans to merge both
companies
Heidelberg. Almonty Industries, partially owned by Deutsche Rohstoff, today
announced that it has invested into Woulfe Mining Corp. Upon closing of the
transaction Almonty will hold 8% of the outstanding Woulfe shares. The
investment creates exposure for Almonty to Woulfe Corp's Sangdong tungsten
project, located in South Korea, which is one of the largest undeveloped
tungsten projects worldwide. The project has a combined inferred and
indicated resource of more than 50 million tonnes of ore with a grade of
0.55% Wo3 for over 250,000 tonnes of tungsten. The long term goal of
Almonty is to combine Almonty and Woulfe Mining into one company.
Lewis Black, CEO of Almonty, said: "Almonty continues to believe in the
merits of combining one of the world's most promising undeveloped tungsten
assets, Woulfe's flagship Sangdong mine, with our significant portfolio of
producing assets that will create a truly global tungsten powerhouse to the
benefit of both Almonty and Woulfe shareholders. We view this transaction
as the first step in achieving our desired end result of combining the two
companies."
The investment consists of an acquisition of Woulfe Mining Corp shares by
Almonty from Woulfe-shareholder Dundee Resources Limited, as well as the
acquisition of convertible debentures issued by Woulfe Mining to Dundee. A
portion of the acquisition will be financed with Almonty shares and leads
to Deutsche Rohstoff's investment in Almonty being diluted from 24.92% to
23.54%. Furthermore Woulfe Mining directly issued a convertible note to
Almonty. The total volume of the transaction is approximately CAD 6.7
million. Almonty has pro-rata partially diluted ownership interest in
Woulfe of approximately 18.2% and upon closing will have the right to
nominate more than 50% of the directors of Woulfe.
The detailed Almonty press release can be found on the company website:
www.almonty.com
Heidelberg, 3 June 2015
Deutsche Rohstoff (Heidelberg, Germany), listed in the Entry Standard
segment of Frankfurt Stock Exchange, is establishing a new primary
producer. The company's focus is placed on oil & gas and so called high
tech metals such as tin, tungsten, and rare earth metals. All projects are
located in political stable countries with high environmental standards.
The business concept is based on redeveloping deposits, which have been
well explored in the past. For more information please visit
www.rohstoff.de.
Contact:
Deutsche Rohstoff AG
Dr. Thomas Gutschlag
Tel. +49 6221 871 000
info@rohstoff.de
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03.06.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Deutsche Rohstoff AG
Friedrich-Ebert-Anlage 24
69117 Heidelberg
Germany
Phone: 06221-87100-11
Fax: 06221-87100-22
E-mail: gutschlag@rohstoff.de
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Stuttgart; Open Market (Entry Standard) in Frankfurt
End of News DGAP News-Service
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365205 03.06.2015
Deutsche Rohstoff AG: Almonty announces investment in Woulfe Mining Corp
One of the largest tungsten deposits worldwide/Almonty plans to merge both
companies
Heidelberg. Almonty Industries, partially owned by Deutsche Rohstoff, today
announced that it has invested into Woulfe Mining Corp. Upon closing of the
transaction Almonty will hold 8% of the outstanding Woulfe shares. The
investment creates exposure for Almonty to Woulfe Corp's Sangdong tungsten
project, located in South Korea, which is one of the largest undeveloped
tungsten projects worldwide. The project has a combined inferred and
indicated resource of more than 50 million tonnes of ore with a grade of
0.55% Wo3 for over 250,000 tonnes of tungsten. The long term goal of
Almonty is to combine Almonty and Woulfe Mining into one company.
Lewis Black, CEO of Almonty, said: "Almonty continues to believe in the
merits of combining one of the world's most promising undeveloped tungsten
assets, Woulfe's flagship Sangdong mine, with our significant portfolio of
producing assets that will create a truly global tungsten powerhouse to the
benefit of both Almonty and Woulfe shareholders. We view this transaction
as the first step in achieving our desired end result of combining the two
companies."
The investment consists of an acquisition of Woulfe Mining Corp shares by
Almonty from Woulfe-shareholder Dundee Resources Limited, as well as the
acquisition of convertible debentures issued by Woulfe Mining to Dundee. A
portion of the acquisition will be financed with Almonty shares and leads
to Deutsche Rohstoff's investment in Almonty being diluted from 24.92% to
23.54%. Furthermore Woulfe Mining directly issued a convertible note to
Almonty. The total volume of the transaction is approximately CAD 6.7
million. Almonty has pro-rata partially diluted ownership interest in
Woulfe of approximately 18.2% and upon closing will have the right to
nominate more than 50% of the directors of Woulfe.
The detailed Almonty press release can be found on the company website:
www.almonty.com
Heidelberg, 3 June 2015
Deutsche Rohstoff (Heidelberg, Germany), listed in the Entry Standard
segment of Frankfurt Stock Exchange, is establishing a new primary
producer. The company's focus is placed on oil & gas and so called high
tech metals such as tin, tungsten, and rare earth metals. All projects are
located in political stable countries with high environmental standards.
The business concept is based on redeveloping deposits, which have been
well explored in the past. For more information please visit
www.rohstoff.de.
Contact:
Deutsche Rohstoff AG
Dr. Thomas Gutschlag
Tel. +49 6221 871 000
info@rohstoff.de
---------------------------------------------------------------------
03.06.2015 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Deutsche Rohstoff AG
Friedrich-Ebert-Anlage 24
69117 Heidelberg
Germany
Phone: 06221-87100-11
Fax: 06221-87100-22
E-mail: gutschlag@rohstoff.de
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Regulated Unofficial Market in Berlin, Dusseldorf,
Stuttgart; Open Market (Entry Standard) in Frankfurt
End of News DGAP News-Service
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365205 03.06.2015
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