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Sylla Gold Amends Share Purchase Agreement to Acquire District Scale Land Package in Namibian Gold Belt
Bedford, Nova Scotia--(Newsfile Corp. - June 13, 2024) - Sylla Gold Corp. (TSXV: SYG) ...
About this update from Sylla Gold Corp
[{"type":"text","content":"Sylla Gold Amends Share Purchase Agreement to Acquire District Scale Land Package in Namibian Gold BeltBedford, Nova Scotia--(Newsfile Corp. - June 13, 2024) - Sylla Gold Corp. (TSXV: SYG) (\"Sylla\" or the \"Company\") announces that it has amended the share purchase agreement (the \"Agreement\") with Namibia Critical Metals. (\"NMI\") to acquire four gold properties located in Namibia as announced on March 4, 2024. Under the agreement, Sylla is to acquire NMI's 95% interest in its Namibian subsidiaries that own the rights, title and interest to the Grootfontein, Erongo, Otjiwarongo, and Kaoko licences, (Figure 1) and certain associated assets.Figure 1To view an enhanced version of this graphic, please visit:https://images.newsfilecorp.com/files/6472/212834_3b61348234adc9bb_001full.jpgTerms of the AgreementAs consideration for the Acquisition, the Company shall: (i) issue the Vendor 3,000,000 common shares (each, a \"Common Share\") in the capital of the Company at a deemed issuance price of $0.05 per Common Share; and (ii) shall pay an aggregate cash payment of $100,000 to the Vendor. The closing date of the transaction has been amended and extended to no later than August 31, 2024. All other terms of the agreement remain in full force and effect.The Acquisition is subject to the satisfaction (or waiver) of a number of conditions precedent, including, but not limited to receipt of all regulatory approvals and the acceptance of the TSX Venture Exchange. All securities issued pursuant to the Acquisition will be subject to a statutory hold period of four months and one day from the issuance thereof, as applicable, in accordance with applicable securities laws.Qualified Person StatementAll scientific and technical information contained in this news release was prepared and approved by Gregory Isenor, P.Geo., Director of Sylla Gold Corp. who is a Qualified Person as defined in NI 43-101.For more information, please contact: Regan IsenorPresident and Chief Executive OfficerTel: (902) 233-4381Email: [email protected] TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.This news release contains forward-looking information which is not comprised of historical facts. Forwar...