14th Apr 2008 13:08
African Minerals Ltd14 April 2008 For immediate release 14 April 2008 African Minerals Limited ("African Minerals" or "the Company") Completion of Strategic Acquisition African Minerals Limited (AIM:AMI) is pleased to announce that, further to itsannouncement of 6 March 2008, it has completed an agreement (the "Share PurchaseAgreement") with Umbono Capital Partners LLC ("Umbono") and Umbono Nominees(together the "Sellers"), and an agreement (the "Management Agreement") withUmbono in respect of White River Resources Inc ("White River"). Under the terms of the Share Purchase Agreement the Company has acquired 100% ofthe share capital of White River, a privately-held Canadian exploration companyfrom the Sellers. White River owns various mineral claim interests and hasrights to earn-in mineral claim interests in Yukon, Canada, including the KluaneProject. As described in the announcement of 6 March 2008, share consideration under theShare Purchase Agreement and the Management Agreement is being met by the issueof a total of 2,000,000 new fully paid common shares of the Company (the "NewCommon Shares") to the Sellers at the date of completion. Application has beenmade for the New Common Shares to be admitted to trading on AIM, which isexpected to occur on or about 18 April 2008. As a result of the issue of the New Common Shares, the issued share capital ofthe Company has increased to 157,408,241 common shares. Enquiries: African Minerals Limited Tel: +44 (0) 20 7849 3002 Frank Timis Roy Pitchford Canaccord Adams Limited Tel: +44 (0) 20 7050 6500 Mike Jones Robin Birchall Citigate Dewe Rogerson Tel: +44 (0) 20 7638 9571 Media enquiries: Martin Jackson/Kate Delahunty Analyst enquiries: Scott Fulton This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
AMI.L