GTI Energy Ltd (ASX:GTR) is offloading its non-uranium assets, one of which is the Kookynie Gold Project to be acquired by Regener8 Resources during that company’s listing to the ASX.
Regener8 has made a priority offer to GTR shareholders in tandem with the lodging of a prospectus with ASIC to raise up to $5.5 million for its initial public offering (IPO).
GTI Energy is divesting non-core assets to focus on its highly prospective uranium assets in the US while retaining a material shareholding and board representation in a well-funded entity (Regerner8) focused on gold exploration in Western Australia.