Americas Diamond Corp. (OTCBB:ADMC) announced that the company has executed a definitive stock purchase agreement for SUDAM Diamonds Ltd and its rights to the Natal Diamond mining concessions.
As quoted in the press release:
The Company can now confirm having completed the definitive Stock Purchase Agreement with SUDAM, in which the Company has acquired 100% of the outstanding capital stock of SUDAM, in consideration for the issuance of an aggregate of 1,221,695 shares of the Company common stock, in addition to the assumption of SUDAM’s obligations.
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