Why the hell is Emerging African Gold getting involved with Russia? Russia is one of the worst places in the world to do business. KWG also has been buying shares of EAG. I thought the game plan is to simplify the structure and holdings of SGV?? Now we have EAG being involved in Russia, KWG buying EAG's shares, and SGV selling KWG shares and then reacquiring them again. And then there is the delay or BS about Russia's deposit for KWG. I thought the Jean-Gobele and Simandou properties were supposed to be excellent properties. Is all this BS ever going to stop?
MONTREAL, Oct. 3 /CNW/ - Emerging Africa Gold Inc. (``EAGI'') announced
today that it has sold to SEMAFO Inc. its 50% interest in the Jean-Gobele and
Simandou properties, located in Guinea, in consideration of:
- 1,500,000 treasury shares of SEMAFO of a value of $3.00 per share.
- 1,000,000 warrants of SEMAFO at a value of $4.00 per warrant, maturing
on December 31, 1999.
The proceeds of this transaction will be used to finance mining
exploration activities in Russia and Africa. This transaction is subject to
the approval of regulatory authorities.
EAGI is an exploration company whose primary objectives are the
discovery, development and mining of significant gold deposits. The company
has 20,805,115 issued and outstanding shares.
NO REGULATORY AUTHORITY HAS APPROVED NOR DISAPPROVED
THE CONTENT OF THIS PRESS RELEASE |
