GME Resources Ltd (GME.AX) Key Developments | Reuters.com
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GME Resources Ltd (GME.AX)

GME.AX on Australia Stock Exchange

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Latest Key Developments (Source: Significant Developments)

GME Resources Ltd completes strategic placement and entered into memorandum of understanding with Panoramic Resources Ltd
Sunday, 21 Sep 2014 07:39pm EDT 

GME Resources Ltd:Says that it has completed a strategic placement and entered into memorandum of understanding with Panoramic Resources Ltd regarding future potential exploration, development and financing of GME Resources' NiWest Nickel Laterite project.GME and Panoramic have entered into memorandum of understanding regarding future potential exploration, development and financing of the GME Resources' NiWest Nickel project.Key terms of Panoramic MOU are: Panoramic to undertakereview of all available information in relation to project.Following completion of Panoramic project review, Panoramic shall provide GME with its advice on following with respect to project: further exploration; project optimisation; project commercialisation alternatives; and funding alternatives.Panoramic may provide GME with commercial terms for consideration with regard to Panoramic's potential involvement in advancement of project.Panoramic is granted period of exclusivity ending on June 30, 2015 to put forward any Panoramic Proposal, during which time GME shall not, directly or indirectly actively solicit any third party competing proposals.Panoramic is entitled to terminate the Panoramic MOU at any time upon notice to GME.Placement to Panoramic comprised issue of 18,518,519 shares at an issue price of A$0.027 per share to raise gross proceeds of A$500,000.  Full Article

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