MANSA1 Oct 2017 12:44
On completion of the Share Purchase Agreement, Mansa will also have the right to acquire an initial 80% indirect interest in the Nimissila exploration permit ("Nimissila Permit") in southern Mali owned by La Societe Omnium Invest SA ("Omnium"). Omnium has granted Xantus an option to acquire an initial interest of 80% in the Nimissila Permit (which could increase to 100%) for US$150,000 until 16 December 2017 during which time Xantus has the exclusive right to explore and evaluate the permit area. The Share Purchase Agreement provides that Mansa shall control the exercise of the option by Xantus and that on such exercise, Xantus shall procure that, provided that Mansa pays the US$150,000 option exercise fee, its interest in the Nimissila Permit is granted to Mansa.� In addition, Blenheim shall have the right to acquire Xantus's entire interest in the Nimissila Permit in the event that Mansa decides not to take Xantus's interest in the Nimissila Permit.