Home > Boards > US OTC > Mining/Resources > Central African Gold Inc. (NDENF)

On June 13, 2017, the Company entered into

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MusashiG   Tuesday, 08/21/18 12:29:42 AM
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On June 13, 2017, the Company entered into a definitive assignment agreement to acquire 100% of the interests, rights and obligations of a further six (6) mining concessions in the Democratic Republic of the Congo, Africa as follows: PR13723, PR13724, PR13725, PR13726, PR13727, and PR13781. In exchange, the Company issued 2,000,000 common shares and paid $30,000. Total consideration was $164,461. On October 5, 2017, the Company entered into a definitive assignment agreement to acquire 55% of the interest, rights and obligations of mining concession PE9468 in the Democratic Republic of the Congo, Africa. In exchange, the Company issued 7,000,000 common shares and paid $375,000. Total consideration was $2,717,886. In January 2018, the Company entered into an agreement with a company controlled by an officer of one of the Company’s subsidiaries whereby the Company will pay $250,000 upon the Company completing the acquisition of interests in not less than 20 concessions in the DRC and an additional $250,000 upon the Company completing the acquisition of interests in not less than 25 cumulative concessions in the DRC. These costs were included in the acquisition costs of the concessions acquired. In January 2018, the Company entered into an agreement to earn up to a 70% interest in six additional concessions in the southern Democratic Republic of Congo Copperbelt as follows: PR13414, PR13430, PR13433, PR13441, PR13444, and PR13445. The Company will be required to make monthly payments of $5,000 per concession (total $30,000 per month) plus $700,000 per concession after a definite feasibility study has been delivered (total $4,200,000). In February 2018, the Company entered into an agreement to earn up to a 70% interest in six additional concessions in the southern Democratic Republic of Congo Copperbelt as follows: PR13416, PR13421, PR13422, PR13423, PR13425 and PR13442. The Company is required to make monthly payments of $5,000 per concession (total $30,000 per month) plus $700,000 per concession after a definite feasibility study has been delivered (total $4,200,000).

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