BRIEF-New World Resources Announces Intention To Demerge North American Cobalt Assets

Reuters

2021/04/13

April 13 (Reuters) - New World Resources Ltd :

* ANNOUNCES INTENTION TO DEMERGE NORTH AMERICAN COBALT ASSETS

* BOARD CONSIDERS VALUE OF ITS COBALT ASSETS IS NOT CURRENTLY REFLECTED IN NEW WORLD'S SHARE PRICE

* DECISION TO DEMERGE FOLLOWS STRATEGIC REVIEW OF ASSET BASE AT HIGH- GRADE ANTLER COPPER DEPOSIT IN IN ARIZONA, USA

* ANTICIPATED THAT NEWCO WOULD SEEK TO LIST ON ASX DURING 2021 BY WAY OF AN INITIAL PUBLIC OFFERING

* IN CONJUNCTION WITH IPO, SHAREHOLDERS IN NEW WORLD WOULD RECEIVE AN IN-SPECIE DISTRIBUTION OF SHARES IN NEWCO

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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