NEWS

Published on August 4th, 2017

Azumah Strikes A$17M Earn-In Deal

Azumah Resources Limited (ASX:AZM) is pleased to advise it has entered into a binding Term Sheet enabling Perth managed private equity group, Ibaera Capital GP Limited (Ibaera), to earn in two stages up to a 47.5% interest for an expenditure of US$13.5 million ~(A$17M) in the Company’s Wa Gold Project in Ghana, West Africa (Project).

See highlights below:

• Investment group Ibaera Capital to earn up to 47.5% for US$13.50M spend (~A$17M) at Wa Gold Project, Ghana (over two years)

• Represents material revaluation of Project and Azumah

• Objective is to boost resources and reserves and deliver a fundable development project

• Ibaera has option to invest up to A$2M in new Azumah ordinary shares at a premium of 10% above 10-day VWAP by 31 August 2017

• Execution of full Earn-In, Investment and Joint Venture Agreement (EIJVA) expected by 31 August 2017

• Acceleration of news flow and investment catalysts to result

Read full announcement

SOURCE: AZUMAH RESOURCES LIMITED
DATE: AUGUST 2, 2017

Azumah

 

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