Talon Metals Corp. has announced that the transaction with Tlou Energy Limited regarding the Saber Gas Project in Botswana was completed today. In this transaction Talon transferred to Tlou Energy all of Talon's rights in the Saber Gas Project licenses in return for a 30% stake in Tlou Energy. Talon also has the option to increase its stake by subscribing for an additional 4,945,055 shares of Tlou Energy.
"The completion of this transaction gives Talon a substantial holding in a leading CBM exploration company in southern Africa," said Stuart Comline, President and CEO of Talon. "Tlou Energy has an experienced management team and the skills, technologies and resources to develop and commercialize coal bed methane and shale gas deposits in southern Africa."
Tlou Energy is an Australian based unlisted public company which plans to pursue a stock exchange listing within the next year.
Talon is a TSX-listed company focused on the acquisition, exploration and development of iron ore and other mineral resource projects. The Company has a well-qualified exploration and management team with extensive experience in exploration and project management.
About Tlou Energy Ltd.
Tlou Energy is an unlisted public Australian based coal bed methane exploration company focused on southern Africa. It was founded by the principals of Walcot Capital and Mitchell Energy Group and is currently managing, operating and funding the Saber Gas Project.
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