Deutsche Rohstoff AG
Deutsche Rohstoff AG: Säle of Wolfram Camp Mine completed
Deutsche Rohstoff AG / Key word(s): Disposal 23.09.2014 08:06 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Deutsche Rohstoff: Sale of Wolfram Camp Mine completed Sales price of 18 million Canadian Dollar/Shareholding in larger tungsten company Heidelberg/Toronto. The sale of Deutsche Rohstoff's Wolfram Camp tungsten mine in Queensland/Australia has been completed today. Deutsche Rohstoff sold all shares of the 100% owned subsidiaries Wolfram Camp Mining and Tropical Metals. The companies are the operating entities for the mine. The buyer is the Canadian company Almonty Industries that operates the Los Santos tungsten mine in Spain. Shares of Almonty are traded on the Canadian TSX Venture exchange in Toronto. The purchase price amounts to 18 million Canadian Dollar (CAD), which converts to approximately 12.7 million Euro at current exchange rates. According to the contract the purchase price consists of the following components: - Deutsche Rohstoff has received 12.2 million shares issued by Almonty that represent a value of CAD 10.5 million at the 15 day volume weighted average price of 0.86 CAD at signing of the contract. The shares translate into a shareholding of Altmonty's issued stock of 24.9% - For the remaining share of the purchase price of close to CAD 7.5 million, Deutsche Rohstoff has received a convertible bond. The bond has a maturity of 2.5 years at an interest rate of 4%. DRAG has the option to convert the bond into shares of Almonty at a conversion price of CAD 1.45. Titus Gebel, CEO of Deutsche Rohstoff AG, commented: "We are happy that we were able to complete the sale of Wolfram Camp. From our perspective, Almonty is the ideal buyer for Wolfram Camp. We believe that Almonty will be the only TSX/TSX-V listed company with two operating tungsten mines, producing both scheelite and wolframite concentrate. As a significant shareholder in Almonty, we are looking forward to supporting the further development of Almonty to a larger tungsten mining company. At the same time, we thank management and employees of Wolfram Camp for their strong commitment over the last three years and their ongoing efforts to build a successful mine. We wish the team all the best for the future development of Wolfram Camp." Heidelberg, 23 September 2014 Deutsche Rohstoff (Heidelberg, Germany), listed in the Entry Standard segment of Frankfurt Stock Exchange, is establishing a new primary producer. The company's focus is placed on oil & gas and so called high tech metals such as tin, tungsten, and rare earth metals. All projects are located in political stable countries with high environmental standards. The business concept is based on redeveloping deposits, which have been well explored in the past. For more information please visit www.rohstoff.de. Contact: Deutsche Rohstoff AG Thomas Gutschlag Tel. +49 6221 871 000 info@rohstoff.de 23.09.2014 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Deutsche Rohstoff AG Friedrich-Ebert-Anlage 24 69117 Heidelberg Germany Phone: 06221-87100-11 Fax: 06221-87100-22 E-mail: gutschlag@rohstoff.de Internet: www.rohstoff.de ISIN: DE000A0XYG76, DE000A1R07G4, WKN: A0XYG7, A1R07G Indices: Entry Standard (Performance TOP 30) Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Frankfurt in Open Market (Entry Standard) End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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