Bluejay Mining plc (AIM:JAY) reached agreement to acquire 51% stake in White Flame Energy Ltd for £1.4 million on June 20, 2024. Bluejay will be granted a three year option to acquire the remaining 49% stake. Conditional acquisition of 51% of the issued share capital of White Flame for £1.4 million , payable in Bluejay shares.

The acquisition is conditional upon the approval of Bluejay shareholders and approval of relevant Greenlandic authorities in respect of the White Flame Acquisition. Ewan Leggat of SP Angel Corporate Finance LLP acted as financial advisor to Bluejay Mining.