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Thor to Acquire Option Interest in Douta Gold Project
18 June 2011: Thor Explorations has signed a letter agreement with the shareholders of African Star Resources Incorporated ("African Star").
The agreement states that the Company
will acquire all of the outstanding shares of African Star for a purchase price
of around $2,600,000 (approx Rs 11,83,00,000 crore).
The transactions contemplated under the Agreement will be a Fundamental
Acquisition in accordance with the policies of the TSX Venture Exchange (the "TSXV")
and other customary conditions. Simultaneously with the execution of the Letter
Agreement, African Star entered into a bridge loan agreement with an undisclosed
party with the advance of $520,000 (approx Rs 23,660,000 crore).
Source: Yourindustry news