Podium Minerals Receives Payment From EV Metals, Proceeds to Strengthen POD’s Financial Position

July 31, 2020 01:21 PM AEST | By Team Kalkine Media

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Podium Minerals Limited (ASX:POD) has received payment from EV Metals Group plc (EVM) for all outstanding tenement costs amounting to $711,000. Moreover, proceeds of $391,000 from the sale of an initial 3 million shares it holds in EVM have also been received by POD.

Further, POD has allowed EVM an exclusive right to acquire investors for all of POD’s shareholding in EVM, amounting to 16,444,568 shares for a price of not less than US$1.5ms or approximately A$2.1m.

After the successful completion of share placement and SPP for raising $1.5m before costs, these additional funds shall further strengthen the financial position of POD.

POD expects further sales of the remaining EVM shares in due course.

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