African Gold Limited (ASX:A1G) entered into a conditional share purchase agreement to acquire Samanafoulou, Sitikili, Yatia, Golokasso Gold Projects on September 5, 2019. Under the terms of the transaction, African Gold Limited will acquire Samanafoulou, Sitikili, Yatia, Golokasso gold projects, and the option to purchase a 95% interest in the Walia gold project in Mali. As part of the consideration, payment of AUD 0.05 million has been made to Abra to secure a 45 day exclusivity right to complete legal, financial and technical due diligence. Subject to satisfaction of due diligence at African Gold’s discretion and completion of the SPA, consideration for the Acquisition is as follows: AUD 0.13 million cash payment to Abra shareholders; subject to shareholder approval, the issue of 3 million African Gold shares; subject to shareholder approval and an ASX waiver from listing rule 7.3.2, the issue of 12.5 million African Gold shares (Deferred Consideration Shares) to shareholders of Abra. The Deferred Consideration shares will be issued upon the completion of the applicable milestone for each tranche. AUD 1 million cash payment to the shareholders of Abra if 2,000,000 oz of gold is announced by African Gold between 5 and 7 years. If this occurs, the Company is not required to issue the 5 million Deferred Consideration shares pursuant to Tranche 3. The Acquisition remains subject to completion of due diligence by African Gold to its satisfaction, as well as shareholder approval of African Gold. The general meeting of shareholders of African Gold Limited shall be held on October 30, 2019. As on October 30, 2019, shareholder approved the deal. African Gold Limited (ASX:A1G) completed the acqusiition of Samanafoulou, Sitikili, Yatia, Golokasso Gold Projects on November 15, 2019.