The TSX Venture Exchange has accepted for filing a share purchase agreement dated July 14, 2018, as amended on Aug. 20, 2019, pursuant to which Fura Gems Inc. acquired 100 per cent of the quotas (equity) of Mozambican Ruby Ltda. from Azores Overseas Inc. (the vendor), a Panama company. Mozambican owns a 100-per-cent interest in a ruby prospecting licence in Mozambique.
In consideration, the company has paid to the vendors $381,000 (U.S.) in cash, discharged $993,000 (U.S.) of Mozambican's liabilities and issued 1,364,338 common shares of the company to the vendor.
The transaction is arm's length and there are no finders' fees on the transaction.
For more information, please refer to the company's new releases dated July 26, 2018, Aug. 22, 2019, Oct. 10, 2019, and Oct. 17, 2019.
Insider/pro group participation: nil
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