- 3D Resources today signed the purchase agreement to acquire the Adelong gold project
- A $100,000 deposit has been paid to Macquarie Gold Ltd
- The acquisition and new option subscriptions are subject to shareholder approval
- DDDO holders won’t need to exercise their options in order to participate in the offer
- The offer will last until 31 March 2022, with 3D trying to sweeten the deal given the longer-than-expected time taken to acquire the replacement project
- 3D shares are up at the market close on Friday to trade at 3 cents apiece
3D Resources today signed the purchase agreement to acquire the Adelong gold project.
A $100,000 deposit has been paid to Macquarie Gold Ltd.
The acquisition and new option subscriptions are subject to shareholder approval.
People who held DDDO options expiring 17 December 2019 have the opportunity to subscribe to new options on a 1 for 1 basis.
The offer will last until 31 March 2022 – 3D trying to sweeten the deal given the longer-than-expected time taken to acquire the replacement project.
DDDO holders won’t need to exercise their options in order to participate in the offer.
If the New Options are fully subscribed and exercised the Company may receive a cash inflow of close to $1.7M.
This forms a key part of the overall funding strategy for the project acquisition.
The company directors have agreed to convert accrued Directors, Secretarial and administrative fees at $0.002 per share to maximise cash assets.
3D shares are up at the market close on Friday to trade at 3 cents apiece.