Aureus agrees to pay more shares for 3 Sarama exploration properties in Liberia

Liberian gold mine
Liberian gold mine | Contributed photo
Aureus Mining of Liberia will pay West African gold-exploration company Sarama Resources Ltd. more common shares than were previously agreed upon in an acquisition deal for three exploration properties in Liberia.

The original agreement called for Aureus to pay 2.6 million shares; the company will now pay 6.6 million shares to keep in line with increased share capital and the company's current share price.

The sale will make it possible for Sarama to concentrate more on other projects in West Africa.

"The divestment of our Liberian assets allows us to focus our resources on Burkina Faso and leverage our well-established position there," Sarama President and CEO Andrew Dinning said. "This deal provides potential upside value to the company and with permits being adjacent the New Liberty mine, has scope to provide a royalty stream earlier than if we had continued to progress the assets within Sarama."

All of Sarama's financial data are available online at www.sedar.com.

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