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Oz Brewing Ltd Enters Heads Of Agreement To Acquire Gabon Potash Assets


Wednesday, 10 Apr 2013 06:37pm EDT 

Oz Brewing Ltd announced that it has entered into a Heads of Agreement to acquire Monomotapa Gold Limited, a Territory of the British Virgin Islands unlisted company, and its 82% interest in Engrais Gabon, holder of the Gabon Potash Assets in the west central African nation of Gabon. Oz Brewing is to pay MGL Shareholders the sum of AUD500,000 as reimbursement for past expenditure. Subject to both ASX and shareholder approval 10,000,000 post consolidation consideration shares will be issued to MGL Shareholders on a pro-rata basis with their shareholding upon Execution of the share sale agreement & re-compliance with Chapter 1 & 2 of the ASX Listing Rules. The terms of the Agreement to acquire MGL are subject to shareholder, regulatory approvals, final documentation being executed and a minimum of $2,000,000 being raised in the prospectus in accordance with the requirements of Chapters 1 & 2 of the ASX Listing Rules. 

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