StockMarketWire.com - Royalty and streaming company Anglo Pacific said it had agreed to acquire a holding company that held a 70% stake in a stream on cobalt production from the Voisey's Bay mine in Canada from private equity sellers for up to US$232 million.

The company said it would the acquisition would be financed through a combination of an equity placing of less than 20% of its shares, the monetisation of a portion of the its Labrador iron ore royalty corporation investment, and a new US$180 million credit facility.

The company also intended to raise up to €8 million by way of an offer to retail investors.

The transaction would provide a 'significant' long-life revenue stream and materially progresses the company's ambition to focus on 21st century commodities, Anglo Pacific said.




At 8:18am: [LON:APF] Anglo Pacific Group PLC share price was 0p at 106.6p



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