Uncategorized
Share this news article...
Share on LinkedIn
Linkedin
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on Google+
Google+
Email this to someone
email

Anfield Gold Announces Agreement to Sell the Coringa Gold Project for US$22 Million

 

 

 

 

 

Anfield Gold Corp. (TSX-V:ANF) announces that it has signed a share and debt purchase agreement with Serabi Gold PLC pursuant to which Serabi will acquire 100% of the issued share capital of Chapleau Resources Ltd a wholly-owned subsidiary of Anfield, which holds the Coringa Gold Project. Serabi will also be acquiring certain intercompany debts of Anfield.

 

 

The total consideration for the acquisition amounts to US$22 million, subject to certain adjustments. Serabi will make an initial payment to Anfield on closing of US$5 million in cash. A further US$5 million in cash is payable within three months of closing and a final payment of US$12 million in cash will be due upon the earlier of first gold being produced from the Coringa Gold Project or 24 months from the date of closing.

 

 

The agreement is conditional on several items including: completion by Serabi of its due diligence; approval of the shareholders of Anfield and the TSX-V; and approval of Serabi’s secured lender, Sprott. Serabi has agreed, on closing, to grant Anfield, subject to the approval of Serabi’s secured lender and, if required, sub-ordinated to any security granted by Serabi to its secured lender, a pledge over the shares of Chapleau as security for the full and irrevocable payment of US$12 million.

 

 

Anfield plans to hold a shareholder meeting to approve the proposed transaction on December 19, 2017, and closing is anticipated to occur shortly thereafter. The planned vote to approve the proposed transaction will occur at the same shareholder meeting as the scheduled meeting to approve the previously announced business combination of Trek Mining Inc., NewCastle Gold Ltd. and Anfield.

 

Posted November 14, 2017

Share this news article...
Share on LinkedIn
Linkedin
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Share on Google+
Google+
Email this to someone
email

MORE or "UNCATEGORIZED"


American Manganese CEO has several one on one meetings with Funds (Audio)

HoweStreet.com | Talk Digital Network https://www.howestreet.com/... READ MORE

September 22, 2018

Tom McClellan - "Gold Now Bound to the Yuan"

September 20, 2018 Old-school monetarists have long... READ MORE

September 21, 2018

The Critical Investor - "Cypress Development Announces Strong PEA Economics And Increased Resource At Clayton Valley Lithium Project"

Drilling at Clayton Valley Lithium project, Nevada Introduction &... READ MORE

September 21, 2018

Jordan Roy-Byrne - "Gold Stocks Remain in Downtrend but Uranium Stocks on the Cusp of New Bull Market"

Gold stocks failed to breakout in the spring and then brokedown t... READ MORE

September 21, 2018

Rick Mills - "Update - SQM’s quest for lithium dominance"

Chile’s Sociedad Quimica y Minera (SQM) is the second largest l... READ MORE

September 21, 2018

Copyright 2018 The Prospector News - Site design by Spyderbaby Productions