RNS Number : 0911X
Mosman Oil and Gas Limited
25 August 2020
 

25 August 2020

 

Mosman Oil and Gas Limited

 ("Mosman" or the "Company")

 

Norseman Capital Update

 

Mosman Oil and Gas Limited (AIM: MSMN) the oil exploration, development, and production company, advises in respect to its shareholding in Norseman Capital Limited (Norseman) as follows.

 

1.  Norseman has been approved to list on the TSX-V exchange in Canada and has now transitioned from the NEX exchange.

2.  The TSX-V listing comes after Norseman secured its first interest in an exploration project (known as a qualifying transaction) and the completion of capital raisings for CAN$450,000.

3.  Norseman has also announced its intention to change its name to Norseman Silver Inc. It is anticipated that will reflect the future business operations of Norseman.

 

These activities by Norseman have resulted in an appreciation of the Norseman share price and taking this opportunity Mosman has sold 1,250,000 shares in Norseman in the market. It retains 510,000 shares.

 

The sale proceeds of circa AUD $258,000 will increase Mosman's cash reserves and be applied to the Company's growth strategy.

 

John Barr, Executive Chairman of Mosman and a director of Norseman, recused himself from the decision to sell the Norseman shares

 

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

 

 

Enquiries:

 

Mosman Oil & Gas Limited

John W Barr, Executive Chairman

Andy Carroll, Technical Director

jwbarr@mosmanoilandgas.com

acarroll@mosmanoilandgas.com

 

NOMAD and Joint Broker

SP Angel Corporate Finance LLP

Stuart Gledhill / Richard Hail / Soltan Tagiev

+44 (0) 20 3470 0470

 

Alma PR

Justine James

+44 (0) 20 3405 0205

+44 (0) 7525 324431

mosman@almapr.co.uk

 

Joint Broker

Monecor (London) Ltd

trading as ETX Capital

Thomas Smith

+44 (0) 20 7392 1432



Updates on the Company's activities are regularly posted on its website: www.mosmanoilandgas.com 

 

 

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