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Saudi Arabian Mining Company (Ma'aden) announces an update on signing of a Heads of Terms agreement with Ivanhoe Electric Inc. (IE) to acquire 9.9% shares of common stock & formation of exploration joint venture in the Kingdom of Saudi Arabia.
| Element List | Explanation |
|---|---|
| Introduction | Further to the Company’s announcement on 18/06/1444 AH corresponding to 11/01/2023 AD, regarding signing of a Heads of Terms agreement with Ivanhoe Electric Inc. (IE) to acquire 9.9% shares of common stock & formation of exploration joint venture in the kingdom of Saudi Arabia. Saudi Arabian Mining Company (Ma’aden) is pleased to announce the signing of the conditional common shares subscription agreement on Monday, 25/10/1444H corresponding 14/05/2023, which will result in the implementation of the acquisition and formation of the exploration joint venture as referred to above after fulfilling certain conditions. |
| Previous Announcement | Signing of a Heads of Terms agreement with Ivanhoe Electric Inc. (IE) to acquire 9.9% shares of common stock & formation of exploration joint venture in the Kingdom of Saudi Arabia. |
| Date of Previous Announcement on Tadawul's Website | 2023-01-11 Corresponding to 1444-06-18 |
| Percentage of fulfilled achievement | NA |
| Event's Expected Completion Date | Third quarter 2023 |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | There is no change of the associated costs with the event. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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