Carey Group Holdings Pty Ltd and Erasano DMCC has entered into a Sale and Purchase Agreement to acquire Labyrinth and Denain gold projects in the Abitibi region of Quebec, Canada from Labyrinth Resources Limited for $3.7 million.

Carey Group Holdings Pty Ltd and Erasano DMCC has entered into a Sale and Purchase Agreement to acquire Labyrinth and Denain gold projects in the Abitibi region of Quebec, Canada from Labyrinth Resources Limited (ASX:LRL) for $3.7 million on January 8, 2024. The consideration of $3.5 million cash payment to the company and payment by GPWA of a cash deposit of $0.175 million. Labyrinth obtaining all necessary regulatory and shareholder approvals.

The transaction is expected to complete in coming weeks. As of February 16, 2024, the parties have agreed to extend the settlement date to February 29, 2024. As of March 1, 2024, the parties have agreed to extend the settlement date to March 29, 2024.

As of April 8, 2024 the transaction expected to close on or before 15 May 2024.