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BRIEF-African Gold Group enters LOI with Hummingbird Resources for strategic investment
September 27, 2017 / 4:54 PM / 2 months ago

BRIEF-African Gold Group enters LOI with Hummingbird Resources for strategic investment

Sept 27 (Reuters) - African Gold Group Inc:

* Enters binding LOI with Hummingbird Resources for strategic investment and joint development of the Kobada Gold Project

* HUM will purchase 40 million units of AGG at a price of CDN$0.09 per unit​

* HUM to fund 100% of capital costs required to build mine,processing plant to earn 50% interest in JV to develop Kobada Gold Project​

* JV agreement provides for establishment of joint technical committee to oversee preparation of definitive feasibility study for Kobada Project​

* Hummingbird Resources PLC to acquire up to 19.9% of AGG for $8 million Source text for Eikon: Further company coverage:

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