06:09:07 EDT Tue 29 Sep 2020
Fura Gems Inc
Symbol FURA
Shares Issued 243,279,893
Close 2019-12-27 C$ 0.155
Recent Sedar Documents

Fura Gems extends drop dead date for ruby deal

2019-12-30 07:09 ET - News Release

Mr. Dev Shetty reports


Fura Gems Inc. has extended the drop dead date for the closing of the merger of ruby assets agreement dated July 14, 2018, as amended (the MRAA). In accordance with the MRAA, on December 27, 2019, the Company gave New Energy Minerals Ltd. (formerly known as Mustang Resources Ltd.) written notice to extend the drop-dead date of the MRAA from Dec. 31, 2019, to Jan. 31, 2020.

The MRAA contemplates the purchase and sale by Fura of interests in three ruby licences/concessions in Mozambique as follows: (i) 75 per cent of the issued shares of Montepuez Minerals Pty Ltd., which owns a 70-per-cent interest in mining licence 5030L and an 80-per-cent interest in mining concession 8921C; and (ii) a right to earn a 65-per-cent interest in mining concession 8955C under a joint venture agreement. Please see the company's press release dated Nov. 29, 2018, for further details regarding the terms of this proposed acquisition. The transaction remains subject to the approval of the TSX Venture Exchange.

About Fura Gems Inc.

Fura Gems is a gemstone mining and marketing company which is engaged in the mining, exploration and acquisition of gemstone licences.

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