Corporate Update from Magna Mining and the Acquisition of Lonmin Canada

Magna Mining CEO, Jason Jessup, joins the podcast today for his corporate comments on the back of news that they are to acquire Lonmin Canada, which includes the Denison Project and the past producing Crean Hill Ni-Cu-PGE mine. The aggregate purchase price for the outstanding shares of Loncan is equal to $16,000,000, comprised of a closing payment of $13,000,000 in cash and a deferred payment of $3,000,000, payable pro rata to the Vendors.