GLG - TD Holdings trades high premarket as it signs LOI with Chenzhou Dingmei to acquire molybdenum copper ore

Tongdow E-Trade Limited, a wholly owned subsidiary of TD Holdings (GLG) entered into a letter of intent with Chenzhou Dingmei Silver ((Chenzhou Dingmei)) for acquiring the ownership of a molybdenum copper ore in Kazakhstan.Under the transaction, Chenzhou Dingmei shall transfer 100% of the copper ore mine and 100% of the equity ownership of East Kazakhstan Group Company to GLG and Tongdow E-Trade for a total consideration of RMB 98M paid in shares and cash.Additionally, the LOI also provides for the further investment of RMB 80M by the Company for the construction of facilities and operations of the mine."The Company will advance its strategic investments in commodities-related oil and ore resources, with its planned collaboration with Chenzhou Dingmei serving as its first move into the ore mine resource field in Kazakhstan," commented Ms. Renmei Ouyang, CEO. Currently, there is  no assurance that a definitive agreement will be entered into or that the proposed transaction will be consummated, including

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TD Holdings trades high premarket as it signs LOI with Chenzhou Dingmei to acquire molybdenum copper ore