Nubian Resources acquisition of Stavely, Bestlevel

Dec 28, 2020

2020-12-24 16:09 ET – Acquisition

The TSX Venture Exchange has accepted for filing a share purchase agreement dated Sept. 23, 2020, among Stavely Minerals Ltd., Van Diemens Gold Ltd. (the vendor), a wholly owned subsidiary of Stavely, and Blackwood Prospecting Pty. Ltd., a wholly owned subsidiary of Nubian Resources Ltd., whereby Blackwood will purchase all of the issued and outstanding shares of Stavely Tasmania Pty. Ltd., a wholly owned subsidiary of Van Diemens, which holds Fosterville East property, located in Victoria, Australia, for the consideration of a cash payment of $100,000, a repayment of the loan in the amount of $67,000 and the issuance of 4,195,708 shares to the vendor.

In addition, Blackwood entered into a share purchase agreement dated Sept. 23, 2020, with Wayne Richard Jones, Lantech Developments Pty. Ltd. and Long Weekend (QLD) Pty. Ltd. (collectively the vendors), whereby Blackwood will acquire all of the issued and outstanding shares of Bestlevel Holdings Pty. Ltd., the owner of the Fosterville East project, holding the Lefroy and Mathinna properties, located in Tasmania, Australia, for the consideration of the issuance of 854,292 shares of the company to the vendors. The Fosterville East project had been operated by Bestlevel and Stavely pursuant to a farm-in agreement.

There is a finder’s fee payable to Peter Huljieh for the issuance of 126,832 shares.

https://www.nubianr.com/