Currie Rose Acquires Properties in South Africa
Currie Rose Resources Inc. (CUI.V) has entered into a letter agreement with Rock & Stock Investments (Pty) Ltd. of South Africa pursuant to which the company has agreed to purchase a 74% interest in the issued capital and securities of Isibaya Mining Resources (Pty) Ltd.
The cash consideration payable by the company to Rock & Stock for the acquisition of the 74% interest is the sum of US$500,000, payable by instalments.
The company has also agreed to issue Rock & Stock 7,500,000 shares in its capital and warrants for the purchase of up to 4,000,000 shares of the company, at a price of $0.10 per share, exercisable for a period of three years.
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