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Threegold Resources Inc. (TSXV:THG) announced its intent to enter into an agreement to acquire 19.9% of the shares of Golden Eagle Peru S.A., Lima in Peru with the option to acquire up to 100% of the remaining outstanding shares.
As quoted in the press release:
Threegold will acquire 19.9% of the Golden Eagle shares in consideration of twenty (20) million shares of the Company, to be issued in two tranches, at a price of CAD$0.05, a work commitment of US$400,000 over the next 6 months, and an upfront payment of US$50,000. A first tranche of five (5) million shares of the Company will be issued upon closing of the transaction and, upon the work commitment being completed. Threegold shall issue Golden Eagle the remaining fifteen (15) million shares having a total value of US$750,000.
Click here to read the Threegold Resources Inc. (TSXV:THG) press release
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