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Ovoca Gold ( (GB:OVB) ) has shared an announcement.
Ovoca Bio has agreed a share-based deal to acquire up to 100% of Tadeen International Limited, a UK company whose Moroccan subsidiary holds copper-focused mineral exploration licences, marking a reverse takeover that will convert Ovoca from an AIM cash shell into an operating mining exploration business. Alongside the transaction, Ovoca plans a 3‑for‑1 share consolidation, a rebrand to Talisman Metals plc with a new AIM ticker, and has raised £1.16m before expenses to fund initial work on its core Moroccan permits and provide working capital, with trading in its shares remaining suspended pending shareholder approval at an extraordinary general meeting and readmission to AIM.
More about Ovoca Gold
Ovoca Bio plc, which is set to be renamed Talisman Metals plc, is transitioning from its former role as a biopharmaceutical developer into a mining exploration company. Following the sale of its IVIX business and the lapse of its Orenetide patents, the group has exited life sciences to focus on mineral exploration in Morocco, targeting copper through its planned acquisition of Tadeen International Limited and its portfolio of exploration permits in the Tizert and Argana projects.
Technical Sentiment Signal: Strong Sell
Current Market Cap: £938K
For detailed information about OVB stock, go to TipRanks’ Stock Analysis page.