Katoro Gold plc (AIM:KAT), the Tanzanian focussed exploration and development company, announces that further to its announcement of 30 September 2019, Lake Victoria Gold Limited (‘LVG’) have now issued 700,000 shares with a value of AUS$70,000 (approximately US$47,230) to Katoro.
In recognition of Katoro granting the extension to receipt of the first tranche of monies due under the term sheet of US$50,000 to 31 October 2019. Following the issue of the shares, Katoro is now interested in 0.7% of LVG’s share capital.
Louis Coetzee, Executive Chairman of Katoro Gold, said, “We are pleased to have concluded the extension premium payment with LVG, which further proves the commitment from LVG to finalise the acquisition of Imweru. Our new shareholding in LVG will also allow Katoro and its shareholders to continue to indirectly share in the potential upside of Imweru.
I look forward to keeping shareholders update on our progress going forward, as we look to create significant shareholder value from our projects.”
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