Blackstone Minerals Limited has signed a binding share purchase agreement with EcoPro Co. Limited (EcoPro, market cap ~US$1 billion). EcoPro’s subsidiary, EcoPro BM, is the world’s second largest and South Korea’s largest nickel-rich cathode materials manufacturer.
The binding share purchase agreement outlines a firm commitment to raise $6.8 million (before costs) through a placement of 40 million shares at an issue price of $0.17 per share, which represents a 62% premium to Blackstone Minerals’ last traded price.
