Dourado Resources (ASX:DUO) has entered into an agreement to sell its Mooloogool tenement in Western Australia’s Doolgunna region for a nominal consideration of $1.
This is part of its strategy to focus on the acquisition of Canadian data security and software company Zyber Secure Mobile Solutions Inc.
Zyber’s product is a secure, easy to install, mobile communication platform that allows users to transact, share data and collaborate across multiple devices and operating systems.
Notably, this offers control and security without leaving a digital footprint on anyone’s device.
This is designed to address concern about Zero Day, APT (Advanced Persistent Threat) attacks which typically feature highly sophisticated cyber techniques previously unavailable to hackers.
Dourado will acquire Zyber for 700 million shares and 270 million exchanged shares in three equal tranches that will be issued on the achievement of certain milestones.
It has also agreed to provide Zyber an initial unsecured loan of up to $260,000 with an interest rate of 6% per annum. This shall increase to $600,000 when all of the vendors have executed a formal share sale agreement.
The acquisition is conditional on completion of due diligence, shareholder approval, Duorado raising at least $3 million and re-compliance with Chapters 1 and 2 of the ASX listing rules.
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