BFXCBiblioteca Francisco Xavier Clavigero (Library of the Universidad Iberoamericana Mexico City, Mexico)
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The agreement is subject to all requisite governmental and regulatory approvals, including disinterested shareholder approval and closing of the Kubi acquisition from Goknet Mining Company Limited (Goknet) such approvals expected at the Asante AGM to be held in Vancouver on December 28, 2016, and if required, the consent of the Minister of Lands and Natural Resources of Ghana; and any shareholder, regulatory and stock exchange approvals required by BFXC (please see our previous news release on the Kubi acquisition, and Ghana property location map at:
(BFXC), which is listed in China on the Shenzhen Stock Exchange, with a market capitalization of US$580 million, and primarily involved in national power grid infrastructure in Asia, South America and Africa.BXC has been active in Ghana for a decade and has completed, or current contracts for over US$200 million including: the design, build and operation of the 20MW Mankoadze solar plant; two US$20 million projects pre-financed by BXC involving the upgrade and extension of power grid networks; and a US$170 million 10 year contract with the Electricity Corporation of Ghana (ECG) installing 450,000 smart meters to reduce distribution system losses.
Yi Cheng, Group Chairman of BXC and President of BFXC, states, Our financial and operating strength complements Asantes proven exploration and development expertise.