Beacon Minerals Unit Completes Sale of MacPhersons Reward to Forrestania Resources

MT Newswires Live

Mar 30

Beacon Minerals' (ASX:BCN) wholly owned subsidiary, Beacon Mining, sold 100% of MacPhersons Reward to Forrestania Resources (ASX:FRS), according to a Monday Australian bourse filing.

The company received AU$5 million in cash, including a AU$500,000 non-refundable deposit and AU$4.5 million paid at completion, along with 36 million fully paid Forrestania shares at a deemed issue price of AU$0.38 per share, per the filing.

The transaction was completed as agreed, with all conditions precedent having been fulfilled, the filing added.

Forrestania Resources' shares rose around 2% in recent Monday trade.

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