Amur Minerals Corporation (“Amur” or the “Company”) takes this opportunity to update shareholders on the status of the Company’s disposal of its AO Kun-Manie wholly owned subsidiary to Bering Metals LLC (the “Buyer”), a Russian incorporated company. Totaling US$35 million, the transaction was anticipated for completion in early November 2022.
However Western introduced restrictions related to the international transfer of funds from the Russian Federation have become more restrictive with time. Mainstream international banks are severely restricting or are no longer allowing such transactions per their internal compliance protocols.