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Northern Star sells Venturex stake

17th March 2021

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Gold miner Northern Star Resources has sold its entire 17.5% stake in fellow listed Venturex Resources in an on-market transaction.

Furthermore, Venturex has also settled an outstanding loan with Northern Star, with the gold miner exercising more than 7.5-million unlisted 10c options, which was applied against an outstanding loan of A$434 544.35.

Northern Star’s sale of its interest in Venturex comes after the junior unveiled a A$58-million recapitalization plan, which would see mining executive, and Northern Star executive chairperson, Bill Beament, take a major share in the company.

Following the completion of the placement and the entitlement offer, Beament would hold a 26.2% interest in Venturex, and will be appointed as an executive director from July 1.

Edited by Creamer Media Reporter

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