PERTH (miningweekly.com) – ASX-listed junior Regalpoint Resources has struck a strategic alliance with specialist investment and asset manager Impact Investment to pursue complementary business opportunities.
Regalpoint, which owns a portfolio of uranium exploration tenements in Northern Australia, told shareholders this week that the alliance would focus on energy and utility infrastructure opportunities involving co-investment and collaboration with indigenous communities.
The memorandum of understanding (MoU) signed between the two companies contemplated that the alliance would look to strategically position itself to leverage on the growing demand for low-carbon and renewable-energy alternatives, investigate growth opportunities in Northern Australia, work collaboratively to leverage off Regalpoint’s existing operations, and examine business opportunities.
Regalpoint would also provide a loan of up to A$500 000 to Impact to advance the alliance's objectives, subject to the progress of a business plan and any necessary regulatory approvals.
In return, Impact would grant Regalpoint 10% of its fully paid ordinary shares, and a 12-month option to acquire the remaining Impact shares at an exercise price of A$1.56-million, to be satisfied through the issue of shares.
Meanwhile, Regalpoint was also undertaking a A$2-million capital raise through a three-for-one renounceable rights issue, priced at 1c each.
Every two new shares would also have one free attaching offer, which could be exercised at a price of 2c each, on or before the end of September 2018.