Far East Gold Says Review Board OKs Funding From Hong Kong Investor

MT Newswires Live

2024-11-29

Far East Gold (ASX:FEG) said Xingye Gold (Hong Kong) received approval from the Foreign Investment Review Board for the second and third tranche funding under the recently disclosed conditional share placement agreement, according to a Thursday filing with the Australian bourse.

The agreement targets more than AU$14 million investment for a 19.99% stake in the company, with all three tranches priced at AU$0.20 per share, an earlier bourse filing showed.

All conditions are now satisfied for the second tranche, while the third tranche remains subject to shareholder approval at the extraordinary general meeting Friday, according to the filing.

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