Sirius Exploration plans to buy Njahili Resources, which has an iron ore project in Sierra Leone.
Sirius will issue 122.5m shares to pay for Njahili. At the suspension price of 6.375p this values the purchase at £7.8m. Sirius wants to raise up to £6m in conjunction with the acquisition. This will mean that the number of shares in issue could more than quadruple.
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