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Firering Strategic Minerals- $AUD 1m Share Consideration Received from Ricca
Home / Client News / Firering Strategic Minerals- $AUD 1m Share Consideration Received from Ricca

Firering, an exploration company focusing on critical minerals, is pleased to announce that it has received 20,000,000 shares (“Ricca Shares”) in Ricca Resources Limited (“Ricca”) at an issue price of AUD$0.05 with a value of AUD$1.0m.

This share issue is part of the initial consideration following the $US18.6 million binding and definitive earn in agreement (the “Agreement”) announced on 2 November 2022 to advance the Atex Lithium-Tantalum Project and the adjacent Alliance exploration licence (once granted) in Côte d’Ivoire.

The Ricca Shares have been issued pursuant to the Agreement following Ricca not having completed an IPO on the ASX by 31 December 2023. The Ricca Shares were issued at a Ricca pre money valuation of c.AUD$7.96 million, representing its value at its most recent funding round in May 2023. Following the settlement Firering holds 20,00,000 shares in Ricca which represents c.11.2%% of Ricca’s issued share capital.

Share Consideration Received- 07:00:07 14 Mar- FRG News Article | London Stock Exchange


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