Middle Island Resources Agrees to Acquire Southern Europe Minerals Explorer; Shares Hit 52-Week High
MT Newswires Live
Sep 02, 2025
Middle Island Resources (ASX:MDI) entered into a binding share sale and purchase agreement to acquire Konstantin Resources, and will raise AU$3.4 million through a placement of 200 million shares at AU$0.017 per share, according to a Tuesday filing with the Australian bourse.
The offer price represents a 14% discount to the stock's volume-weighted average price in August, the filing said.
The acquisition and placement need shareholder approval, which is expected by late October, the company said.
Shares of the company rose 75% and earlier hit a 52-week high.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.