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Adamas Finance Asia increases stake in dolomite mine

The Asia-focused investment group issued around 4.28mln shares at US$1.20 each
China
HKMH's mine is in Shanxi Province

Adamas Finance Asia Limited (LON:ADAM)  has increased its indirect shareholding in Hong Kong Mining Holdings Ltd (HKMH) to 84.81% from 79.26%.

The Asia-focused investment group issued around 4.28mln shares at US$1.20 each to buy out certain minority shareholders in HKMH.

WATCH: Adamas Finance Asia 'incredibly busy' with opportunities after first two investments

The vendors are also waiving repayment of loans to the miner to the value of US$5.36mln approximately.

HKMH is in the process of re-starting operations at its dolomite mine in Shanxi Province, China.

Adamas’ stake in HKMH is held through a wholly-owned subsidiary, Dynamite Win Limited.

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