South African company Bushveld Minerals has agreed a deal with Wogen Resources to secure funding for its subsidiary Bushveld Vametco’s acquisition of a majority stake in Strategic Minerals Corporation. Wogen's financing includes $3m product prepayment as part of the acquisition debt package, and inventory and receivables financing of $6m. The deal also sees Woden become the global marketer and distributor of Vametco’s nitride vanadium, with the exception of Taiwan and Japan, and the company will receive one Bushveld warrants.
South African company Bushveld Minerals has agreed a deal with Wogen Resources to secure funding for its subsidiary Bushveld Vametco’s acquisition of a majority stake in Strategic Minerals Corporation. Wogen's financing includes $3m product prepayment as part of the acquisition debt package, and inventory and receivables financing of $6m. The deal also sees Woden become the global marketer and distributor of Vametco’s nitride vanadium, with the exception of Taiwan and Japan, and the company will receive 15 million Bushveld warrants.