Gabo Mining Ltd V.MDL

RE:RE:RE:RE:RE:RE:RE:ACDC metals pty. info

[moorage]

 

Medallion currently owns 4.8 million shares of ACDC, or approximately 15% of ACDC’s issued capital before the IPO. Upon successful completion of the pilot plant utilizing MMP, Medallion will receive an additional 2.5 million shares of ACDC by converting performance shares issued to Medallion at the time of the IPO. Upon commercial production, Medallion will be entitled to convert other performance rights into an additional 750,000 shares of ACDC. Upon full conversion, Medallion would own 8.05 million shares of ACDC. Medallion has the right to purchase or place up to 20% of the ACDC shares issued in the IPO subject to approval of the lead underwriter and Medallion’s diluted ownership including shares owned and the conversion of all its performance rights not exceeding 19.9% of ACDC’s issued share capital. Medallion will receive a 2% royalty on the sale of mixed REE compounds and other minerals produced by ACDC and processed using MMP.--- >>> https://medallionresources.com/2022/10/medallion-resources-and-acdc-metals-enter-into-definitive-agreement-for-utilizing-the-medallion-monazite-process-in-southern-australia/

 

@housing ACDC is an integrated mineral exploration and rare earth technology company incorporated with the aim of undertaking mineral exploration and resource development, focusing on heavy mineral sands projects located in Victoria, Australia, with the ultimate goal of producing heavy mineral sands (HMS) products and rare earth elements (REE). ACDC has entered into binding acquisition agreements to acquire interests in the Goschen Central Project, the Douglas Project and the Watchem Project (together, the Projects). The Projects are located on the eastern edge of the Murray Basin, Victoria, Australia and are considered highly prospective for HMS, REE and other materials based on past exploration results. In addition, the Company has entered into a licensing agreement with Canadian public company --- >>> Medallion Resources Ltd (TSXV:MDL) (Medallion) to utilise its proprietary monazite processing technology, the Medallion Monazite Process (MMP Technology) to extract REE from monazite. https://acdcmetals.com.au/company/about/

Source: CEO.CA