Sarama Resources Ltd (TSXV:SWA) executed a definitive agreement to acquire South Hounde project from Acacia Mining plc for $4 million on May 14, 2019. Under the terms of the transaction, $0.75 million will be paid on the closing date and $3.25 million will be paid out in the following periods, $0.75 million after 6 months of closing, $0.5 million of after 12 months of closing and $2 million of payment will be paid based on production. Sarama will resume sole operatorship of the Project, Acacia will relinquish its right to an ownership interest in the Project and Sarama will retain 100% ownership. The transaction is subject to satisfaction of certain conditions under the definitive documentation.

Sarama Resources Ltd (TSXV:SWA) completed the acquisition of South Hounde project from Acacia Mining plc on November 18, 2019.