Alba Mineral Resources plc has exercised the earn-in option to acquire the Finnsbo rare earth project in eastern Bergslagen in Uppland, eastern Sweden.
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The completed transaction involves payment to the project owners of £7,500 in cash and £7,500 in 30,512,612 Alba shares.
Following admission the company will have 10,941,721,949 ordinary shares in issue, with voting rights.
Alba holds no shares in treasury.
The four-stage earn-in begins with the right to spend £100,000 on qualifying expenditure over a 12-month period to earn a 25% interest in Finnsbo.