Marula Mining (AQSE: MARU), an African-focused mining and development company, is pleased to announce, that further to the announcement released on 31 January 2023, the Company has now signed a co-development agreement (the “Co-Development Agreement”) and a relationship agreement (the “Relationship Agreement”) (together the “Agreements”) with K2020273872 (South Africa) Proprietary Limited, a wholly owned subsidiary of Q Global Commodities Group (“Q Global”), one of South Africa’s leading independent commodity, mining, logistics and investment funds.
The signing of the Agreements follows the earlier signing of a £3,750,000 subscription agreement with Q Global (the “Subscription Agreement”). It is intended that Mr Quinton van der Burgh, Q Global’s CEO and one of South Africa’s leading mining entrepreneurs, will be appointed Chairman of the Board of Directors, subject to various matters including completion of all normal regulatory approvals, due diligence and the proposed admission to trading of Marula’s shares to AIM, the market operated by the London Stock Exchange Group plc.
Today's announcement from @MarulaPlc confirms the signing of the Co-Development and Relationship Agreements.
These agreements are important in the future growth of the company and our plans to rapidly develop new mines.#MARU pic.twitter.com/afN5asplbI
— Jason Brewer (@JB_MiningAfrica) February 16, 2023
The Co-Development Agreement sets out the broad technical and strategic support that is to be provided to the Company by Q Global to allow the accelerated development of its current portfolio of mining projects in Africa. The Co-Development Agreement further provides the opportunity for Q Global to participate directly through the co-development of the Company’s current projects and new projects identified by Marula.
The Relationship Agreement sets out the terms of the relationship between Q Global, the Company and the Company’s AQSE Corporate Adviser. Under the Relationship Agreement, which is conditional on the first subscription under the Subscription Agreement, details of which were included in the announcement on 31 January 2023 (the “Initial Subscription”), amongst other things, Q Global undertakes to act for the benefit of the shareholders of the Company as a whole, to conduct transactions between itself and the Company on an arms-length basis and to not unduly or improperly influence the running of the Company.
The Initial Subscription is conditional upon, amongst other things, a Rule 9 Waiver being obtained in accordance with the City Code on Takeovers and Mergers and shareholder approval at a forthcoming general meeting (“General Meeting”) of the Company.
Jason Brewer, Marula Mining PLC CEO said:
“It is very pleasing to have signed both the Co-Development Agreement and Relationship Agreement.
“ Having recently met with the Q Global team and Quinton van der Burgh at the Mining Indaba Investment Conference in Cape Town, I am delighted by this partnership and the potential opportunities for Marula and our shareholders.”
The Directors of Marula are responsible for the contents of this announcement.
About Marula Mining
Marula Mining (AQSE: MARU) is an African focused battery metals investment and exploration company and has interests in several high value mine projects in Africa; Blesberg Lithium and Tantalum Mine in South Africa, Nkombwa Hill Project in Zambia and Kinusi Copper mine and Bagamoyo Graphite Project in Tanzania. As we advance operations at these battery metals focused projects, Marula will continue to build and expand its interests in other high-quality projects in Africa.
Marula’s strategy is to identify and invest in advanced and high-value mining projects throughout East, Central and Southern Africa that the Directors believe would deliver returns for its shareholders. The Board and management team aims to establish Marula as a socially and environmentally responsible, sustainable, and profitable producer of critical metals and commodities that are of increasingly strategic importance to modern technologies and the global economy.
Marula’s shares are currently traded on the AQUIS Stock Exchange (AQSE), Marula is exploring opportunities to admit its shares to trading on AIM, the market operated by the London Stock Exchange Group plc, and Kenya’s Nairobi Securities Exchange.
For enquiries contact:
Marula Mining PLC
Chief Executive Officer
Faith Kinyanjui Mumbi
Email: [email protected]
Email: [email protected]
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