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Oracle Power acquires gold prospects in Australia
StockMarketWire.com
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Resources group Oracle Power said it had agreed to acquire two gold projects in Western Australia for a combination of cash and shares.
The Northern Zone and Jundee East projects were acquired for £90,000 in cash and the issue of around 42.9 million shares in the company.
The vendor was also offered warrants for 42.9 million shares exercisable at a price of 1.1p for 24 months from issue.
Oracle Power said the assets would compliment its flagship Thar Block VI power project in Pakistan and its evaluation of opportunities in Africa.
At 9:11am: (LON:ORCP) Oracle Power PLC share price was 0p at 0.6p
Story provided by StockMarketWire.com
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