Richland Resources Ltd has completed the sale of Capricorn Sapphire and it has become a shell.
The original option for the sale to Fura Gems Inc was announced in June. Fura has paid $1.25m in cash, of which $880,000 is going directly to repay the secured convertible loan facility.
Richland is seeking a reverse takeover deal. It has six months unless it raises at least £6m. At 0.12p a share, Richland is capitalised at £1m.
© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.