On 30 July 2021, shareholders of Cradle Resources Limited ('Cradle') approved the transfer of Cradle's interest in the Panda Hill Niobium Project to its wholly-owned subsidiary Panda Hill Mining Limited ('PHM').
Shareholders also approved the in-specie distribution of the beneficial interest in the 152,748,622 PHM shares held by Cradle ('PHM Shares') to eligible Cradle shareholders on a pro rata basis ('In-specie Distribution').
Cradle has now effected the In-specie Distribution. PHM Nominees Pty Ltd will hold the PHM Shares on trust for Cradle shareholders who receive a beneficial interest in PHM Shares. PHM holds a beneficial interest in Panda Hill Tanzania Ltd, a joint venture entity with Tremont, which holds the interests in the Panda Hill Niobium Project. For further details, please refer to Cradle's notice of meeting dated 28 June 2021.
Contact:
Grant Davey
Tel: +61 8 9200 3425
Fax: +61 8 9200 4961
Email: info@cradleresources.com.au
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