White Cliff Completes Great Bear Divestment, Strengthens Balance Sheet
White Cliff Minerals Limited (ASX: WCN) has completed the divestment of its Great Bear Project to Great Bear Exploration Limited, following the receipt of the final cash settlement of AU$1.2 million. The completion of the transaction represents a key achievement for the company, with every required condition now fulfilled. As part of the consideration, White Cliff received 230 million GBL shares valued at approximately AU$4.6 million, in addition to the cash payment. As part of the transaction, approximately 97.58 million GBL shares were allocated directly to qualifying White Cliff shareholders.
Following the transaction, White Cliff retains 69.8 million GBL shares, representing a 9.99% stake in Great Bear Exploration, allowing continued exposure to the Great Bear Uranium, Copper, Gold, and Silver Project. Management noted that the proceeds strengthen the company’s financial position and support accelerated exploration activities at its Rae Project in Canada, particularly across the Danvers and Sedimentary targets. The retained GBL shares are subject to a 24-month escrow period, aligning with ASX re-listing requirements for Great Bear Exploration.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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White Cliff Completes Great Bear Divestment, Strengthens Balance Sheet
White Cliff Minerals Limited (ASX: WCN) has completed the divestment of its Great Bear Project to Great Bear Exploration Limited, following the receipt of the final cash settlement of AU$1.2 million. The completion of the transaction represents a key achievement for the company, with every required condition now fulfilled. As part of the consideration, White Cliff received 230 million GBL shares valued at approximately AU$4.6 million, in addition to the cash payment. As part of the transaction, approximately 97.58 million GBL shares were allocated directly to qualifying White Cliff shareholders.
Following the transaction, White Cliff retains 69.8 million GBL shares, representing a 9.99% stake in Great Bear Exploration, allowing continued exposure to the Great Bear Uranium, Copper, Gold, and Silver Project. Management noted that the proceeds strengthen the company’s financial position and support accelerated exploration activities at its Rae Project in Canada, particularly across the Danvers and Sedimentary targets. The retained GBL shares are subject to a 24-month escrow period, aligning with ASX re-listing requirements for Great Bear Exploration.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au