Ann: CZR Secures Funding to test Nickel/Copper/Vanadium Targets, page-5

  1. 2,323 Posts.
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    Should be an announcement shortly?.......From 8th November, P4.

    Acquisition Terms;
    CZR, through its wholly owned subsidiary KingX Pty Ltd, has entered into a binding
    term sheet with Colchis Resources Pty Ltd (“Colchis”), a wholly owned subsidiary within
    the Creasy Group of companies, to acquire an initial 70% interest in Colchis tenement
    E47/2150 as follows:
    1. Percentage interest in the Tenement CZR = 70% and Croydon Gold Pty Ltd = 30%;
    2. Consideration is 40,000,000 fully paid ordinary CZR shares and 200,000,000

    unlisted CZR options with an exercise price of $0.015 and expiring 31 December 2020;
    3. Conditions to be satisfied include shareholder and regulatory approval, CZR due
    diligence and the company completing a capital raising of not less than $6,000,000;
    4. The end date for the satisfaction of the conditions is 7 February 2018;
    5. A joint venture shall be established between the parties in respect of their percentage
    interests and CZR shall be the manager.
 
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Last
23.5¢
Change
0.000(0.00%)
Mkt cap ! $55.70M
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23.5¢ 24.5¢ 23.5¢ $5.268K 21.89K

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25.0¢ 107406 4
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