EnerGulf Resources Inc. (TSXV:ENG) entered into a binding letter of intent to acquire Columbus Copper Corporation (TSXV:CCU) from Alacer Gold Corp. (TSX:ASR) and others for CAD 1.3 million on March 24, 2015. As per the terms of the deal, EnerGulf will issue 9.2 million shares to acquire all the outstanding shares of Columbus Copper. As per the deal, EnerGulf Resources' Board of Directors would be expanded from four to five directors with Robert Giustra, Director of Columbus, appointed as the fifth director. A definitive agreement is expected to be signed on May 7, 2015. The deal is subject to due diligence review, approval of the shareholders of Columbus Copper Corporation, Columbus acquiring the Block 8 hydrocarbon license and Bulqiza-Batra chromite license in Albania and all necessary court and regulatory approvals including TSX Venture Exchange. The due diligence is expected to be completed by April 23, 2015.The transaction is expected to complete by July 31, 2015. EnerGulf Resources Inc. (TSXV:ENG) entered into a definitive agreement to acquire Columbus Copper Corporation (TSXV:CCU) from Alacer Gold Corp. (TSX:ASR) and others on July 9, 2015. Columbus Copper will operate as a wholly owned subsidiary of EnerGulf. The transaction was approved by the Board of Directors of EnerGulf. Jonathan Chu has resigned as Chief Financial Officer of the Company as of September 2, 2015. Jorge Martinez will become a Vice President of the Company, and Jenna Virk will become the Corporate Secretary and Vice President of Legal of the Company upon closing of the transaction. The shareholders of Columbus Copper approved the deal at a special meeting of shareholders held on September, 25, 2015. Columbus Copper Corp. has been granted a final order by the Supreme Court of British Columbia approving the transaction. The transaction is expected to close on or about September 30, 2015, subject to the satisfaction of customary closing conditions for a transaction of this nature.

EnerGulf Resources Inc. (TSXV:ENG) completed the acquisition of Columbus Copper Corporation (TSXV:CCU) from Alacer Gold Corp. (TSX:ASR) and others on September 29, 2015.