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Greater Pacific to boost Apogei stake
22-October-07 by Edited announcement
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Rivervale-based gold explorer Greater Pacific Gold Ltd has acquired a further 20 per cent stake in private uranium and gold explorer Apogei Pty Ltd, and has been granted an option to acquire an additional 20 per cent of the company.
Apogei, which holds projects in the Northern Territory, is already 40 per cent owned by Greater Pacific, with another 20 per cent stake owned by Yellow Rock Resources - in which Greater Pacific is also a significant investor.
Greater Pacific will issue 55 million shares, worth around $1.3 million to $1.5 million, and 55 million options exercisable at 3 cents each for the initial 20 per cent acquisition.
The 20 per cent option is exercisable by the Company at any time over the next 4 months, for the issue of a further 55 million shares and 55 million options at 4 cents.
GPN
greater pacific gold limited
