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GOLDARC RESOURCES LIMITED — M&A Activity 2024
Mar 17, 2024
64961_rns_2024-03-17_d71b0138-809c-4920-81ff-dc307a23a528.pdf
M&A Activity
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ASX RELEASE
18 March 2024
ZULEIKA COMPLETES ACQUISITION FOR 100% INTERESTS OF THE ZULEIKA AND CREDO GOLD PROJECTS
Zuleika Gold Limited ( ZAG ) (ASX: ZAG) is pleased to advise that it has executed two tenement sale agreements and one share sale agreement with Asra Minerals Limited ( Asra )(ASX: ASR) to acquire from Asra the outstanding interests in all of the tenements included in the Zuleika and Credo Joint Ventures, and the remaining shares in Goldfields Mining Group Pty Ltd for a total cash consideration of $170,000 (the Acquisition ).
Following settlement of the Acquisition, ZAG will own a 100% interest in all of the tenements that collectively comprise the Zuleika and Credo Joint Ventures, and tenements previously owned by Goldfields Mining Group Pty Ltd are fully incorporated into the Zuleika Gold Project.
ZAG confirms that all conditions precedent for the Acquisition have been fulfilled.
All other terms and conditions of the agreements with Asra are considered standard for agreements of this nature.
ZAG’s Executive Chair, Annie Guo, commented:
“We are very pleased to have completed the acquisition of a 100% interest in each of the tenements that collectively comprised our now former joint ventures with Asra Minerals.”
“Following our recent $3,000,000 capital raising and also the securing of a $950,000 costs settlement with Vango Mining Limited, Zuleika Gold is now well placed to actively pursue its planned 2024 exploration and drilling programs.”
Level 1, 8 Kings Park Road West Perth, Western Australia 6005 Telephone: +61 8 6370 6188 Fax: +61 8 9486 1166 E-mail: [email protected]
Zuleika Gold Limited
ABN 43 141 703 399
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Figure 1 Zuleika Gold’s tenement portfolio in WA
Authorised for release by the Board
Michael Higginson Director/Company Secretary
Telephone: +61 42 999 5000
Level 1, 8 Kings Park Road West Perth, Western Australia 6005 Telephone: +61 8 6370 6188 Fax: +61 8 9486 1166 E-mail: [email protected]
Zuleika Gold Limited
ABN 43 141 703 399