JADAR RESOURCES LIMI

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Jadar Resources Limited Announces to Spin Out Its Serbian Lithium and Borate Assets into Newly Incorporated Subsidiary, Balkan Mining and Minerals Limited

03/22/2021 | 05:36pm
Jadar Resources Limited announced that on 24 February 2021, the Company has made the decision to spin out its Serbian lithium and borate assets (comprising of its Rekovac Lithium and Borate Project and these four newly awarded exploration licences) into a newly incorporated subsidiary, Balkan Mining and Minerals Limited, subject to shareholder approval in accordance with ASX Listing Rule 11.4.1(b). It is intended that Balkan will undertake a $6.5 million capital raising (IPO) and seek a listing on the official list of the Australian Securities Exchange.
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