Announcement

WA Asset Sale Completed - $2.5 million received

30 August 2019

Completion of Australian Asset Sale

  • Sale of Southern Gold’s Australian assets has now completed
  • The total sale price of $2.5 million cash (before adjustments and expenses) has now been received

Sale Completion

Southern Gold Ltd (Southern Gold) advises that the previously announced binding Sale and Purchase Agreement (see ASX Release on 5 August 2019 for details) executed with Sydney based private gold mining company, Aurenne Group Holdings Pty Ltd via its subsidiary Aurenne Cannon Pty Ltd ACN 634 889 982, has now been completed.

The balance of the total sale price of $2.5 million has been received by Southern Gold.This sale price is before adjustments, including a pro-rata refund to Southern Gold of the payment of rents and rates for the sale tenements in the current period, and expenses of the transaction.

Southern Gold was advised on the transaction by PCF Capital Group with legal advice provided by HopgoodGanim.

To read the complete announcement please down load the pdf below:

WA Asset Sale Completed - $2.5 million received