Producing Diamond Mine In The Central African Republic signed letter of intent to acquire Suburban Minerals Corp. (OTCPK:SUBB) in a reverse merger transaction on December 8, 2013. Suburban Minerals is issuing 240 million common shares and 10 million convertible preferred shares. Each Preferred share is convertible into 500 common shares of Suburban Minerals upon Suburban Minerals receiving financing in the amount of $300 million. Also, 60 million common shares of Suburban Minerals will be issued as finder's fee to WSA Global Pte. Ltd. In addition to the issuance of common and preferred shares, Suburban Minerals will pay a royalty of 2.5% of gross profits. The definitive agreement is expected to be signed by or before January 5, 2014 and the deal is expected to be completed by January 19, 2014. As of January 15, 2014, the agreement is expected to be signed on or before January 21, 2014 and the closing upon completion of the formal due-diligence and receipt of all transfer approvals. As of January 24, 2014, an acquisition agreement was signed. The deal is subject to governmental consents and Board of Directors approval. Suburban Minerals Corp expects to complete due diligence, satisfy all regulatory requirements and close the acquisition on or before February 28, 2014. Clayton E. Parker from K&L Gates LLP acted as legal advisor for Suburban Minerals. WSA Global Pte. Ltd. acted as integrator in the transaction.

Producing Diamond Mine In The Central African Republic completed the acquisition of Suburban Minerals Corp. (OTCPK:SUBB) in a reverse merger transaction on February 5, 2014.