April 26, 2018 / 6:16 AM / 3 months ago

BRIEF-Highland Gold Signs Agreement To Purchase Gold Assets In Chukotka

April 26 (Reuters) - Highland Gold Mining Ltd:

* AGREEMENT TO PURCHASE GOLD ASSETS IN CHUKOTKA

* ACQUISITION OF VALUNISTY MINE LLC, KANCHALANO-AMGUEMSKAYA SQUARE LLC AND NORD-EAST MINING AND GEOLOGICAL COMPANY LLC FROM ARISTUS HOLDINGS LTD

* CONSIDERATION PAYABLE PURSUANT TO ACQUISITION IS US$91M

* ABOUT US$78.7M TO BE SATISFIED BY ISSUE OF 38,621,343 ORDINARY SHARES OF £0.001 EACH, AND BALANCE BY ASSUMPTION OF APPROXIMATELY US$12.3M OF NET DEBT

* “THE TRANSACTION IS STRUCTURED IN SUCH A WAY AS TO BE IMMEDIATELY VALUE-ACCRETIVE TO THE BENEFIT OF ALL OUR SHAREHOLDERS” - CEO Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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