S2 Resources concludes sale of Finnish subsidiary Sakumpu to Outback Goldfields

S2 Resources Ltd (ASX:S2R) has successfully concluded the sale of its wholly-owned Finnish subsidiary, Sakumpu Exploration Oy, to Outback Goldfields, now known as Valkea Resources Corp. The total consideration to S2 amounts to C$7 million, comprising C$1.5 million in cash and C$5.5 million in shares in Valkea. Following this transaction, S2 now holds a approximately 44% equity stake in Valkea, providing S2 shareholders with significant continuing exposure to Valkea's potential exploration success in northern Finland.

Executive Chairman, Mark Bennett, comments on the transaction

It is very pleasing to conclude this transaction, which provides S2 with a number of positive outcomes, including some additional cash to fund its core exploration activities, significant cost savings related to holding its Finnish assets, and importantly, continued exposure to potential future exploration success in Finland via a major shareholding in Valkea.

Sale completion provides S2 with positive outcomes and continued exposure to potential exploration success

S2 Resources Ltd (ASX:S2R) has successfully completed the sale of its wholly-owned Finnish subsidiary, Sakumpu Exploration Oy, to Outback Goldfields, now known as Valkea Resources Corp. The total consideration of C$7 million, comprising C$1.5 million in cash and C$5.5 million in shares in Valkea, provides S2 with additional cash to fund its core exploration activities and significant cost savings related to holding its Finnish assets. Furthermore, S2 now holds a approximately 44% equity stake in Valkea, offering S2 shareholders continued exposure to potential future exploration success in Finland. Mark Bennett, S2's Executive Chairman, expressed his satisfaction with the transaction, highlighting the positive outcomes and the continued exposure to potential future exploration success in Finland via a major shareholding in Valkea.