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Gondwana Gold Announces Closing of Transaction with Pan African Oil

Gondwana Gold Inc. (GON.V) has completed the acquisition of all of the issued and outstanding shares of Pan African Oil Ltd. The transaction constituted a change of business pursuant to the policies of the TSX Venture Exchange and the company is now a Tier 2 oil and gas issuer.

PAO's principal asset is its 72% working interest in blocks 2211B and 2311A in the Walvis Basin, offshore Namibia, and an 81% working interest in Block 2612A in the Lüderitz Basin, offshore Namibia.

The company issued 27,811,997 common shares on closing of the transaction and now has 58,299,497 common shares issued and outstanding. All convertible securities of PAO were exchanged for similar securities of Gondwana.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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