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Prospect Resources appoints Renaissance Capital as advisor

By Business Reporter – Tuesday 7 July 2020

HARARE (Mining Index) – PROSPECT Resources Ltd (ASX:PSC, FRA:5E8) has appointed Renaissance Capital as its exclusive financial advisor as discussions progress with Uranium One in relation to the potential sale of whole or part its license or assets in the Arcadia Lithium Project.

Renaissance Capital is a leading independent investment bank, providing access to over 50 markets across the globe with operations in Africa, Central and Eastern Europe, North America, and the Middle East.

According to Prospect Resources, discussions with Uranium One are on-going and progressing well.

“Renaissance Capital has been appointed as financial/merger and acquisition adviser to Prospect Resources in relation to the Memorandum of Understanding (MOU) with Uranium One Group,”

“In light of this, Prospect has now appointed Renaissance Securities (Cyprus) Limited (“Renaissance Capital”) as its exclusive financial advisor in relation to the potential sale, directly or indirectly, of the Company’s economic or other participation in, or the whole or part of the licence and/or the assets of, the Arcadia Lithium Project or of the Company itself to Uranium One or its affiliates,”

“The discussions with Uranium One are incomplete and on-going and there is no guarantee that the MOU or any discussions with Uranium One will result in a formal binding agreement or proposal or as to the timing or terms on which any transaction may proceed,” said Prospect Resources in a statement.

Renaissance Capital’s unique on-the-ground footprint, with offices in Lagos, London, Moscow, New York, Johannesburg, Cape Town, Nairobi, Cairo and Nicosia, provides its clients with an unrivalled offering, serving as a gateway to emerging and frontier markets for international investors.

“Prospect is pleased to advise that despite receiving a number of enquiries regarding placement of the remaining shortfall shares from the recent Rights Issue, it will not be placing the shortfall, making the rights issue fully closed,” said Prospect. ENDS// 

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