RTG Mining Inc. (TSX:RTG) entered into binding memorandum of agreement to acquire Mt Kare Gold Project from GMG Global Mining Group Limited and Tribune Mt. Kare Limited for $14.8 million on December 10, 2019. As per the transaction, $1.5 million will be paid through cash, $12.3 million will be paid in shares, and $1 million will be paid through contingent payment. Apart from this, $3 million consulting fee will be payable if the decision to mine is made by the JV. The transaction is subject to approval of litigation matters resolved in the PNG Government’s favor and subject to RTG shareholder approval. RTG Mining Inc. (TSX:RTG) cancelled the acquisition of Mt Kare Gold Project from GMG Global Mining Group Limited and Tribune Mt. Kare Limited on April 30, 2020. The deal was subject to a number of conditions precedent including successful resolution of the Summit Development Limited (“Summit”) appeal of a Judicial Review that held that the PNG Government had acted correctly in respect of the exploration licence held by Summit (a subsidiary of Indochine). The end date for satisfaction of this condition precedent was April 25, 2020 which has not been satisfied and we did not seek to extend at this time.