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Infinio Group Ltd Proposes Acquisition Of Entire Issued And Paid Up Capital Of Summit Light Ventures Ltd

Thursday, 22 Aug 2013 05:59am EDT 

Infinio Group Ltd announced that with reference to the announcement on July 1, 2013 that the Company has entered into a Memorandum of Understanding (MOU) on July 1, 2013 to acquire the entire issued and paid up capital of Summit Light Ventures Ltd (Summit), a special purpose company set up to consolidate the assets known as the BirthdayGold Mine in Western Australia (the Assets). Under the MOU,the Company and Summit have undertaken on a efforts basis to conclude a formal agreement for the Sale and Purchase of the entire paid up capital of Summit, within 45 days of the MOU, unless otherwise extended by mutual agreement between the parties. The Board announced that the Company and Summit have agreed to extend the 45 day period by a further period of 60 days from August 14 to October 12, 2013. Financial terms of the transaction were not disclosed. 

Company Quote

0.0010 +16.67%
27 Aug 2014