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Stratmin Global agrees early cash settlement with Bass Metals

Stratmin said the deal was the best possible platform for it ahead of initiating a reverse takeover.

StratMin Global Resources PLC (LON:STGR) has agreed to an immediate discounted cash settlement of the share payments due from Bass Metals Ltd.

A Share Purchase Agreement had previously stipulated that Bass equity worth A$8mln was to be issued to StratMin in two tranches.

The companies have now agreed a cash settlement of A$3.55mln in total, of which A$1.865mln (£1.1mln) cash is payable immediately with potential for a further A$500,000 (£296,000) from the sale of a royalty.

Stratmin said the deal was the best  possible platform for it ahead of initiating a reverse takeover.