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Artemis signs binding agreement to acquire 100% of Rincon Resources

Artemis Resources Ltd (ASX:ARV) executive director Edward Mead updates Proactive Investors on the company’s binding share sale and purchase agreement to acquire 100% of Rincon Resources Ltd.

The acquisition will include the rights to three highly prospective projects and will expand Artemis’ holding within the Paterson Province to 1,140 square kilometres, making it one of the largest landholders in the region.

Rincon’s acquisition will be subject to due diligence, a further 23% acceptance of Rincon shares and Artemis shareholder approval, for a total sum of $2.7 million (shares plus performance payouts).

Quick facts: Artemis Resources Ltd

Price: 0.105 AUD

ASX:ARV
Market: ASX
Market Cap: $117.58 m
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