Ascent Resources Announces Discussions with Amur Minerals Corporation

Source: www.gulfoilandgas.com 8/8/2023, Location: Europe

Ascent Resources Plc ("Ascent" or, the "Company"), the European and Latin American focused natural resources company, notes Amur Minerals Corporation ("Amur") announcement this morning, regarding the cessations of discussions regarding the non-binding indicative proposal of a possible share offer for the entire issued and to be issued share capital of Amur by Ascent. Ascent is surprised and disappointed with this announcement given the last communication between the parties was three weeks ago with Ascent confirming its forward process and timetables to achieve the possible combination, following which Ascent has been waiting for the Amur board to engage further on the proposal. Given that Ascent is expecting imminently the result of its €3.5M+ arbitration claim against its JV partner in Slovenia, Ascent still believes that a combination of the two companies would be in the interest of both shareholder groups. Accordingly, Ascent is exploring the possibility to put forward a binding offer to the shareholders for the the issued and to be issued share capital of Amur.


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