Serabi Gold (SRB)

 

Serabi Gold acquires Chapleau for up to $22m

Serabi Gold has agreed to acquire Chapleau Resources, which owns the Coringa gold project in Brazil, for up to $22m.

Serabi said it would make an initial payment to current owner Anfield on closing of the transaction of $5m in cash, with a further $5m payable within three months of closing.

A final payment of $12m in cash would be due upon the earlier of either the first gold being produced or 24 months from the date of closing.

At 9:49am: (LON:SRB) Serabi Mining PLC share price was 0p at 4.13p