Everton acquiring Dominican Republic gold assets
Everton is buying interest from Brigus Gold.
Everton Resources is to acquire the remaining interest of Brigus Gold in the Ampliacion Pueblo Viejo, Ponton and La Cueva concessions.
Contract negotiations between the firm will see Everton buy the assets in the Dominican Republic through the purchase of all outstanding and issued common shares of Linear Gold, which is the registered titleholder of the investments and one of Brigus' wholly-owned subsidiaries.
Chairman and chief executive officer of Everton Andre Audet said the firm believes acquiring a 100 per cent interest in Ponton, La Cueva and Ampliacion Pueblo Viejo will allow it to increase shareholder value significantly.
"The closing of this agreement represents another step in Everton's strategy to focus on its Dominican Republic properties," he remarked.
The shares will be held for a four month period as a result of regulatory requirements, with this scheduled to conclude on February 23rd 2013 and the closing of the deal will be subject to a share purchase agreement.
Posted by David Gleck
Source: Everton press release, October 23rd