The key terms from the purchase of 100% Chuscal and dissolving...

The key terms from the purchase of 100% Chuscal and dissolving of the prior JV... It clearly states that AGA will be provided shares enough to give them 10% holding in company if exercised based on when they were issued. Number issued was

Key, in-principle terms of the Agreement include:
• the issue of fully paid ordinary Los Cerros shares (LCL Shares) to AGA resulting in AGA having
a Relevant Interest (as defined in the Corporations Act) of 4.3% in the fully paid issued capital
of LCL, with the fixed number of shares to be calculated on the date of a Notice of Meeting
(NOM) to approve the issue of the LCL Shares;
• the grant by Los Cerros of options (Options), with an exercise price of $0.16 and an expiry
date 12 months from the date of issue, as would give AGA, following the issue of the LCL
Shares, a total relevant interest in 10% of the Company. The Options are subject to shareholder
approval and the number of Options will be fixed in the NOM;


Los Cerros Limited (ASX: LCL) (“Los Cerros” or the “Company”) is pleased to advise that it hasissued and allotted 10,476,597 fully paid ordinary shares (“Shares”) and 15,430,648 unquoted options,exercisable at 16 cents, on or before 9 October 2021, pursuant to the terms of the agreement withAngloGold Ashanti Colombia S.A. for their interests’ in the Chuscal joint venture, as approved byshareholders at the General Meeting held on 23 June 2020.