indianpokerrules| Ganfeng Lithium Industry (01772.HK) plans to acquire 40% stake in Mali Lithium

Gelonghui May 7, Ganfeng Lithium Industry (01772Indianpokerrules.HK) announcementIndianpokerrulesOn September 6, 2023 and January 15, 2024, GFL International entered into a cooperation agreement and a 5 per cent acquisition agreement with LeoLithium,MaliLithium and ╱ or MaliL MSA, as the case may be, under which (I) GFL International agreed not to exceed $138 millionIndianpokerrulesSubscribe for expanded issued shares of Mali Lithium5% for consideration of (ii) GFL International agrees to purchase and Leo Lithium agrees to sell 5% of all issued shares of Mali Lithium for a consideration not exceeding 6%Indianpokerrules, 5 million dollars.

As of the date of this announcement, the subscription has been completed and 5% of the acquisition has not been completed.

The board is pleased to announce that on May 7, 2024, GFL International, Leo Lithium, the company and Mali Lithium entered into a 40 per cent acquisition agreement under which GFL International agreed to buy and Leo Lithium agreed to sell 40 per cent of all issued shares of Mali Lithium for a consideration not exceeding $342.7 million. Immediately before the date of the 40 per cent acquisition agreement, GFL International and Leo Lithium held stakes in Mali Lithium55% and 45 per cent respectively. Upon completion of the 5 per cent acquisition and 40 per cent acquisition, Mali Lithium will become an indirect wholly owned subsidiary of the company and its results will be consolidated into the consolidated statements of the company.

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