BRIEF-Yankuang Energy Announces Merger And Acquisition Of Highfield Resources

Reuters09-23

Sept 23 (Reuters) - Yankuang Energy Group Co Ltd

* ANNOUNCEMENT ON MERGER AND ACQUISITION OF HIGHFIELD RESOURCES LIMITED

* COMPANY SHALL TRANSFER ITS 100% EQUITY INTEREST IN YANCOAL CANADA RESOURCES TO HFR AT ISSUE PRICE OF A$0.50 PER SHARE

* WILL ACQUIRE NEWLY ISSUED SHARES OF HIGHFIELD RESOURCES

* COMPANY SHALL TRANSFER ITS 100% EQUITY INTEREST IN YANCOAL CANADA RESOURCES TO HFR

* HFR SHALL RAISE US$220 MILLION THROUGH A TARGETED ISSUE OF ADDITIONAL SHARES OF HFR

* INTENDS TO CONTRIBUTE NO MORE THAN US$90 MILLION TO PARTICIPATE IN SUBSCRIPTION

* HFR SHALL RAISE US$220 MILLION AT A PRICE OF A$0.50 PER SHARE

Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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