MVI Ireland s.r.o. completed the acquisition of IMC Exploration Group Public Limited Company in a reverse merger transaction.
The Board of IMC will be increased by the addition of two directors appointed by the Seller. From an operational point of view in Armenia, a country manager, and a senior geologist, will become employees of Assat. Transaction is subject to due diligence, shareholder approval and approval by the the Board of IMC and other customary closing conditions. The Board intends unanimously to recommend in the Combined Circular and Prospectus that IMC shareholders vote in favour of the requisite shareholder. The closing date of the Acquisition will be on or as soon as practicable after the date on which IMC and the Seller notify each other of the satisfaction or waiver of the conditions. As of January 12, 2023, the expected closing date has been extended until October 14, 2023. Extensions to the fulfilment date owing to local, COVID-19 pandemic-related factors.
MVI Ireland s.r.o. completed the acquisition of IMC Exploration Group Public Limited Company (LSE:IMC) in a reverse merger transaction on November 1, 2023. Following a Reverse Takeover, IMC Exploration Group's securities have been cancelled from admission to trading on London Stock Exchange with effect from November 1, 2023. Stephen Clayson and Brinsley Holman of Keith, Bayley, Rogers & Co. Limited acted as financial adviser to IMC Exploration.