Brief: Fargo Enterprises Says Entered Into A Binding Terms Sheet To Buy Odessa Minerals

Odessa Minerals

23/08/2021 10:31

Aug 23 (Reuters) - Fargo Enterprises Ltd  FGO.AX :
    * ENTERED INTO A BINDING TERMS SHEET TO ACQUIRE ODESSA
MINERALS
LTD
    * INTENDS TO CONSOLIDATE CURRENT SHARES ON ISSUE ON A 5 TO 1
BASIS
    * INTENDS TO RAISE MINIMUM OF A$4 MILLION (BEFORE COSTS) AT
AN
ISSUE PRICE OF A$0.02 PER SHARE
    * ACQUISITION CONSIDERATION CONSISTS OF ABOUT 196M ORDINARY
FARGO
SHARES AND ABOUT 98M UNQUOTED OPTIONS

   Source text for Eikon:  ID:nASXs5q0L 
   Further company coverage:  FGO.AX 

 ((Reuters.Briefs@thomsonreuters.com;))