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Discovery Africa acquires further exploration licence

Friday, 4 Apr 2014 03:10am EDT 

Discovery Africa Ltd:Executed a Tenement Sale Agreement (TSA) with respect to Exploration Licence No. 1173 (EL 1173), located in Uganda, Africa.The acquisition of this licence allows Discovery Africa (DAF) to increase the area surrounding the Kitgum Project.Under the terms, DAF will pay $25,000 cash to the vendors, will issue 9,500,000 fully paid ordinary shares to the vendors and 12 months following execution of the TSA, DAF will pay $75,000 cash to the vendors. 

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