December 24, 2009Angel Mining Plc sells its 100% subsidiary...

December 24, 2009
Angel Mining Plc sells its 100% subsidiary Greenland Resources Ltd - holder of the Motzfeldt exploration licence to a private Australian group which formed a new company: the Greenland Resources Holdings Pty Ltd.
Purchase price: A$ 50.000 in cash for 49% of GRL and a put and call option for a further A$ 1.000 to acquire 51% for A$ 10.
This comes with a exploration commitment liability of around US$ 500.000

March 17, 2010
A.RAM acquires 51% through the issue of 280M ordinary fully paid shares and 280M options each at 3c an option.
B. Further 19% by paying the vendor $ 1 million in cash and funding of $10 million
C. Up to 90% by paying a further $2M and funding of $15M
D. $50M for remaining 10%