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GBM RESOURCES LIMITED. — M&A Activity 2013
Jul 14, 2013
64966_rns_2013-07-14_c60b3734-2358-43c9-b25d-28ab1068e277.pdf
M&A Activity
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ASX Announcement
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ABN 91 124 752 745
15 July 2013
ASX Code: GBZ
Progress on Acquisition of Malaysian Gold Mine
GBM Resources (ASX: GBZ) ( GBM or the Company ) is pleased to announce that having completed technical and legal due diligence the Company has executed a formal Acquisition and Joint Venture Agreement with Angka Alamjaya Sdn Bhd ( AASB ) to recommission the Lubuk Mandi Gold Mine in Peninsular Malaysia.
GBM Resources had previously announced on 11 June 2013 that it had entered into a Binding Term Sheet to undertake a share swap with AASB.
Under the terms of the Acquisition and Joint Venture Agreement, GBM and AASB agree to undertake a share swap in which GBM will acquire approximately 40% of AASB by issuing 15% of ordinary shares in GBM, subject to shareholder approval at a general meeting of GBM Shareholders on Monday 22 July 2013.
The remaining conditions on the Agreement are:
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Approval of the transaction by GBM shareholders under the ASX listing Rules at a General Meeting on Monday 22 July 2013.
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Procuring project funding of up to SGD$6 million for AASB.
COMPANY DIRECTORS
Peter Thompson Managing Director/ Executive Chairman
Neil Norris Exploration Director – Executive
Cameron Switzer Non-Executive Director
Guan Huat (Sunny) Loh Non-Executive Director
CONTACT DETAILS
Principal & Registered Office Suite 8, 7 The Esplanade, Mt Pleasant, WA 6153
Exploration Office 10 Parker Street, Castlemaine, Victoria 3450
Website
The GBM Board has approved this transaction to prepare for an ongoing plan to develop the Lubuk Mandi Gold mine and recommence mining operations.
For further information please visit www.gbmr.com.au or contact:
Phone
+61 (8) 9316 9100
Fax +61 (8) 9315 5475
Investors:
Peter Thompson Managing Director GBM Resources Tel: +61 8 9316 9100
Media:
Karen Oswald Walbrook IR Tel: + 0423 602 353
Phone (Exploration Office) +61 (3) 5470 5033
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