Forrestania Resources Agrees to Acquire Western Australia Tenement Package for AU$350,000; Shares Rise 4%
MT Newswires Live
Feb 25
Forrestania Resources (ASX:FRS) said that agreed to acquire a tenement package in Western Australia, consisting of exploration licences E77/2915, E63/2187, E63/2188, E63/2190, and applications E63/2408 and E63/2414, from Flynn Gold for AU$350,000, according to a Wednesday filing with the Australian bourse.
The company will pay the consideration to Flynn via the issue of shares at AU$0.5457 apiece, the filing said.
The completion of the deal is subject to meeting conditions, including due diligence and receipt of regulatory approvals, the filing added.
Shares of the company rose 4% in recent Wednesday trade.
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