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Impact Minerals Ltd To Acquire 100% of Endeavour Minerals Pty Ltd With Invictus Gold Limited


Tuesday, 29 Jan 2013 07:14pm EST 

Impact Minerals Ltd (IPT) announced that Impact Minerals Limited and its 75% owned Invictus Gold Limited (IVG) have jointly agreed to acquire 100% of Endeavour Minerals Pty Ltd, a private company with four exploration and resource development projects in Australia, consisting of two 100% owned gold and base metal projects and the rights to farm-in to two nickel-copper-PGE gold projects. Invictus and Impact will each acquire 50% of the outstanding shares in Endeavour for AUD1,050,000 comprising AUD 650,000 cash and AUD 400,000 in shares as: a partly refundable payment of AUD100,000 on signing of a Binding Term Sheet (completed) for an exclusive option to complete due diligence by February 28, 2013; a payment of AUD 200,000 cash payable on exercise of the option; and a further payment of AUD 350,000 cash, AUD 200,000 in shares in Impact and AUD 200,000 in shares in Invictus within 16 weeks of the exercise of the option. 

Company Quote

0.037
-0.0020 -5.13%
30 Jul 2014