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Chapmans Ltd Announces Heads Of Agreement

Thursday, 3 Oct 2013 10:18pm EDT 

Chapmans Ltd announced that it has entered into a non-binding Heads of Agreement with an Australian coal exploration company (Company) with projects in the Bowen Basin Queensland, to acquire a minimum of 20% and up to 50% of the shares in the company. The Company has the right to acquire an exploration permit for a potentially significant coking coal project. Chapmans will undertake due diligence during the 60 day negotiation period. The proposed consideration has not yet been determined and is subject to the outcome of the due diligence process. 

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