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Triton Minerals: Chinese NDRC approval

2019-10-15

Oct. 15, 2019 - Triton Minerals Limited (ASX: TON) (Triton) is pleased to advise that pursuant to the subscription agreement with Jinan Hi Tech (JHT) announced on 28 June 2019 (Subscription Agreement), Triton has been advised that the proposed acquisition of a 34.01% stake in Triton has been approved by the National Development and Reform Commission of China (NDRC). 

This NDRC approval is a major endorsement of Jinan Hi-Tech’s partnership with Triton to develop the Ancuabe Graphite Project and is a key Chinese approval that effectively approves the transaction. Whilst further approvals from the Ministry of Finance (MOFCOM) for the transfer of funds from China are still required to satisfy the relevant condition precedent, the approval by NDRC of the transaction facilitates these further approvals. 


Triton is working towards satisfying a number of other outstanding conditions precedent and will update the market if and when those conditions precedent are satisfied. It is anticipated that all conditions precedent will be satisfied in the coming weeks.

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