DMC Mining Limited to Acquire Firawa Uranium-REE-Nb Project in Guinea

DMC Mining Limited (ASX:DMM) is making a significant financial commitment with the acquisition of a 100% interest in Veridis Energie SARL (“Veridis”) and Mining Development Resources SARLU (“MDR”) through executed Share Sale Agreements. This strategic move, which will grant Veridis and MDR exclusive exploration licenses over the Firawa Uranium-REE-Nb Project and the Labé Project in Guinea, is accompanied by a capital raising of AU$5.0 million (before costs) at AU$0.05 per share, demonstrating DMC's strong financial position and commitment to growth.

The consideration includes an exclusivity fee of US$90,000, 50,000,000 fully paid ordinary shares, 130,000,000 performance shares, and US$25,000 per month for four months starting January 2024 for consultancy services. Upon completion, Mr. Minosora will join the DMM Board as Non-Executive Chairman, and Mr. Sam Randazzo and Dr. Andrew Wilde will join as Non-Executive Directors. Current Executive Chairman David Sumich will transition into the Managing Director role.

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