Alamar Resources signs agreement with Stifel Nicolaus Weisel for potential A$10m capital raising

Alamar Resources (ASX: ALG) has amended the initial share purchase agreement for the Mongolian Resource Corporation, and has also signed a letter of engagement with Stifel Nicolaus Weisel for a potential A$10 million capital raising.

A minimum $10 million capital raising is now a condition precedent for the agreement to acquire the Mongolian based diversified resource company.

Stifel Nicolaus Weisel will conduct the proposed $10 million capital raising at $0.25 on a 'best endeavours basis.'

Consideration for the Alamar purchase of the Mongolian Resource Corporation is now:

- 55 million fully paid shares;
- 45 million performance shares; and
- 12.5 million options, exercisable at $0.25 expiring 2 years following settlement.

Alamar has also provided an additional $200,000 loan to Mongolian Resource Corporation.

The directors of Alamar said that the Mongolian Resource Corporation business provides an attractive opportunity to complement the current assets and strategies of the company.

To date, Alamar has entered into direct tenement acquisitions and joint ventures to explore for natural resources, with a focus on gold, copper and uranium.

Due diligence is ongoing.