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Polymetal International complete sale of North Kaluga for US$35.7 million

Polymetal International plc (LON:POLY) has completed the previously announced sale of North Kaluga to North Kaluga Mining Limited for the total consideration of US$ 35.7 million.

Following satisfaction of all outstanding conditions to closing and requisite regulatory approvals, the Transaction was completed on 23 June 2020.

The total Transaction value amounts to US$ 35.7 million and comprises US$ 10.7 million in cash (which has already been paid), royalties with a fair value of US$ 19.1 million and repayment of all debt owed by the North Kaluga’s license holder to Polymetal International in the amount of US$ 5.9 million payable by 31 August 2020.

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