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Almasane Alkobra Mining Company (AMAK) announces the latest developments on the signing of a Letter of Intent with Power Metal Resources Plc
| Element List | Explanation |
|---|---|
| Introduction | The company would like to inform its esteemed shareholders that the Letter of Intent has been extended for an additional three months (extendable), until June 9, 2025, pending the completion of the drafting of the binding agreement terms agreed upon by the parties. The Letter of Intent will automatically expire upon the conclusion of the agreement or upon the expiration of the additional three-month period — or any extension thereof. The company will announce any developments in due time. |
| Previous Announcement | With reference to the announcement of Almasane Alkobra Mining Company (AMAK) dated 09/12/2024 AD regarding the signing of a Letter of Intent with Power Metal Resources Plc |
| Date of Previous Announcement on Saudi Exchange’s Website | 2024-12-09 Corresponding to 1446-06-08 |
| Hyperlink to the Previous Announcement on the Saudi Exchange Website | Click Here |
| Latest Developments Of The Announced Event | The Letter Of Intent has been extended for an additional 90 days until June 9th, 2025, as per the agreement between both parties. |
| Reasons For The Delay on The Date of The Event Previously Announced | N/A |
| The costs associated with the event, and if they have changed or not with indication of the reasons. | This Letter Of Intent doesn’t result in any financial or legal obligations for either party towards the other, but the resulting agreements will be formulated later in detailed legal agreements and contracts. |
| Delay consequences on the Company’s financial results | N/A |
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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Value Traded (Sar) 39,541,254
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