Sunridge Gold Corp. (SGC/TSX.V) has served notice to both Sub-Sahara Resources NL ("SSR") and Africa Wide Resources Limited ("AWR") of its intention to exercise its option to acquire their combined interests in the Asmara Joint Venture ("AJV") for shares of Sunridge so that Sunridge would own 100% of the Asmara Joint Venture project.
Pursuant to the terms of the Option Agreements between the parties dated June 30, 2004 the parties will negotiate the fair value of the AJV project. Sunridge can purchase the SSR (48%) and AWR (12%) interests in the AJV for common shares of Sunridge.
This transaction is subject to regulatory approvals.
SBS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
