| GobiMin Inc. Announces Partial Disposition of Investment in Loco Hong Kong Holdings Limited | |
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TSX-V: GMN
TORONTO , Sept. 17, 2015 /CNW/ - (GMN.V) GobiMin Inc. (the "Company" or "GobiMin") announces that it has sold the Company's investment in 40,000,000 shares, being its partial shareholding, of Loco Hong Kong Holdings Limited ("Loco HK") to third parties (the "Transaction") for gross proceeds of approximately US$4.7 million which will be received on September 21, 2015 . The Transaction is an Arm's Length Transaction as defined in the TSX Venture Exchange policies. After the Transaction, GobiMin remains having a 38% equity interest in Loco HK.
Mr. Felipe Tan , CEO of GobiMin, commented on the Transaction: "Having regard to the current market price and the global economic conditions, we take the view that it is a good timing and value to realise part of the Company's investment in Loco HK. The resources of the Company can be better deployed in developing our other assets or potential projects after the disposal. The proceeds from the Transaction will strengthen our financial base and increase our financial flexibility."
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
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SOURCE GobiMin Inc.
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GobiMin Inc.
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CODE : GMN.V |
ISIN : CA38020T1021 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
GobiMin is a copper development stage company based in Canada. GobiMin produces copper, nickel in China, and holds various exploration projects in China. Its main asset in production is HUANGSHAN DONG in China and its main exploration properties are HUANGSHAN, YANXI and XIANSHAN in China. GobiMin is listed in Canada and in United States of America. Its market capitalisation is CA$ 92.1 millions as of today (US$ 73.6 millions, € 69.8 millions). Its stock quote reached its highest recent level on December 31, 2007 at CA$ 4.24, and its lowest recent point on September 09, 2021 at CA$ 0.19. GobiMin has 50 310 000 shares outstanding. |