BlackGold Natural Resources Limited (Catalist:41H) entered into a non-binding term sheet to acquire Ensbury International Limited from Gain Capital Group Pte Ltd and Terrence Timothy Tyler for $100 million on August 20, 2015. The purchase price was arrived at, after arm’s length negotiation, on a willing-buyer willing-seller basis, subject to the minimum valuation, and shall be satisfied by way of cash and/or allotment and issuance of new ordinary shares in share capital of BlackGold Natural Resources. The transaction is subject to the parties entering into a definitive sale and purchase agreement in respect of the proposed acquisition with conditions precedent therein, including but not limited to, a valuation on the assets held by the target being not less than $100 million, all applicable governmental and regulatory approval as well as clearance for the proposed acquisition and a circular to be addressed to shareholders relating to the acquisition, obtaining of all necessary corporate and third party consents including the approval of the BlackGold's shareholders, satisfactory completion by the BlackGold of financial, legal and operational due diligence exercises on Ensbury International, key management of Ensbury International entering into 1 year service agreements on the date of completion of the acquisition. As of October 16, 2015 the parties have mutually agreed to extend the term sheet expiry date for a further six months from October 18, 2015 to April 18, 2016. Romil Singh and Reyna Mei of Financial PR Pte Ltd acted as the financial public relations advisors to BlackGold Group. BlackGold Natural Resources Limited (Catalist:41H) cancelled the acquisition of Ensbury International Limited from Gain Capital Group Pte Ltd and Terrence Timothy Tyler on August 20, 2016.