Brief: Acacia Mining Says Co Signs A Binding Conditional Agreement With Sarama Resources Ltd

Sarama Resources

28/11/2018 07:30

Nov 28 (Reuters) - Acacia Mining PLC  ACAA.L :
    * SOUTH HOUNDÉ PROJECT UPDATE
    * SIGNED A BINDING CONDITIONAL AGREEMENT WITH ITS PARTNER,
SARAMA
RESOURCES LTD
    * SARAMA TO TERMINATE EARN-IN AGREEMENT IN RESPECT OF SOUTH
HOUNDÉ
PROJECT IN SOUTH-WESTERN BURKINA FASO
    * TERMINATION OF EARN-IN AGREEMENT IS CONDITIONAL ON
DEFINITIVE
DOCUMENTATION BEING AGREED BY PARTIES BEFORE APRIL 30, 2019
    * AGREEMENT WILL ALLOW SARAMA TO MOVE TO 100% OWNERSHIP OF
PROJECT
BY MAKING A PAYMENT OF US$2 MILLION IN STAGED PAYMENTS
    * ACACIA WILL BE GRANTED 5 MLN WARRANTS FOR COMMON SHARES IN
SARAMA, EXERCISABLE FOR FIVE YEARS

Source text for Eikon:  ID:nPRrR6EADa 
Further company coverage:  ACAA.L 

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