John Armelagos, one of the owners of
AGG prior to the sale to Praxair, said, "Praxair is a perfect fit for our company and our two organizations complement each other.
AGG will pay a finder's fee of 5% of the gross proceeds from the common shares subscribed for under the offering, and issue finder's warrants to acquire 10% of the common shares issued.
As a result of the increase in gold values from these selected samples
AGG has requested all samples returning greater than 1 g/t Au that have not yet been subjected to metallic fire assay, be tested utilizing this process.
Benoit Ribadeau-Dumas, Senior Executive Vice President, Acquisition, CGG, said: "CGG was selected for this second Falcon
AGG survey based on the success of the Ungani survey, the close working relationship that developed between Buru and CGG geoscientists during their joint interpretation of the
AGG data and CGG s proven high-quality, efficient and safe data acquisition performance.
AGG helps growing enterprises turn legal challenges into business opportunities with guidance on mergers and acquisitions, capital markets, financing, joint ventures, litigation, and other legal services.
Furthermore, under the terms of the Agreement,
AGG has elected to earn an additional 34% direct interest (for a total interest of up to 85%) by expending an additional US $1,000,000 on the Mankranho License.
Adoo will devote considerable time to the identification and acquisition of additional precious metal properties within Ghana and greater West Africa for
AGG.
In addition to the options that have been issued to the Consultant, an insider of
AGG has agreed to sell 300,000 shares (the "Escrowed Shares") to the Consultant which are subject to a TSX Venture Exchange (the "Exchange") imposed escrow.
To date,
AGG has completed 3,006 metres of diamond drilling, 151 km.
Based on the independent valuation, the Earn-In Agreement provides
AGG with the right to earn a 51% interest in the Mankranho License by spending US$1,253,000, and further allows
AGG to earn up to an additional 34%, to total an aggregate of an 85% earned interest, upon spending an additional US$1,000,000 on the Mankranho property.
Under the Terms of the Earn-In Agreement and based on the independent valuation, the Earn-In Agreement provides
AGG with the right to earn a 51% interest in the Mankranho License by spending US$1,253,000 and further allows for the right to earn up to an additional 34%, to total an aggregate of an 85% earned interest, upon spending an additional US$1,000,000 on the property comprising the Mankranho License.
AGG has also negotiated a 5 year option agreement with Moseaso Mining Co.
