African Rainbow Minerals Ltd. announces that it has signed a subscription agreement agreeing to purchase 25,781,715 common shares of
Surge Copper Corp. at a price of C$0.175 per Common Share for total consideration of approximately C$4,511,800.13 pursuant to a non-brokered private placement . On July 18, 2024, pursuant to an investor rights agreement between ARM and Surge dated May 31, 2024, ARM exercised in full its rights in connection with a non-brokered private placement completed by Surge on June 21, 2024, and purchased a total of 1,582,353 Common Shares at a price of C$0.15 per common share for a total purchase price of approximately C$237,352.95 . Prior to entering into the Subscription Agreement, ARM held 42,955,767 Common Shares, representing approximat...