RTG Mining Inc. (TSX:RTG) agree to acquire 90% interest in the Aucu Copper-Gold project from White Cliff Minerals Limited (ASX:WCN) for $2.65 million on September 6, 2019. Out of total consideration of $2.65 million, $2.15 million will be paid in cash and $0.5 million will be paid in terms of RTG shares, to be issued at completion, subject to a 12-month escrow period. Out of $2.15 million, $0.2 million will be paid as a deposit and and balance $1.95 million will be paid upon completion of transaction. As on October 23, 2019 remaining balance of $1.95 million was paid in cash. The acquisition have been fully funded by a new unsecured loan of $2.5 million. Transaction is subject to approval from shareholders of White Cliff Minerals Limited and any applicable regulatory approvals. As on October 23, 2019, all conditions precedent satisfied following shareholder approval for the transaction on October 15, 2019. Transaction is expected to be completed on October 15, 2019. KPMG Financial Advisory Services (Australia) Pty Limited acted as a financial advisor and Atkinson Corporate Lawyers acted as a legal advisor to White Cliff Minerals Limited.

RTG Mining Inc. (TSX:RTG) completed the acquisition of 90% interest in the Aucu Copper-Gold project from White Cliff Minerals Limited (ASX:WCN) on October 23, 2019.