Posted On: 01/30/2014 12:28:34 PM
Post# of 144801
SUBB +.057 looking real good today!
Suburban Minerals Corp. (OTC Pink: SUBB) announced today the signing of the acquisition agreement to acquire the exploration, production and commercialization rights to a Diamond Concession in the Republic of Central Africa.
Suburban Minerals Corp. (OTC Pink: SUBB) announced today the signing of the acquisition agreement to acquire the exploration, production and commercialization rights to a Diamond Concession in the Republic of Central Africa.
According to the agreement, the company will acquire the Diamond Concession Rights located in the Republic of Central Africa for a total of 300 million restricted common shares of Suburban Minerals at a price of $0.20 and 10 million convertible preferred shares at a price of $10.00, establishing the acquisition price at $160 million USD. Each Preferred share is convertible into 50 common shares of the company upon Suburban Minerals receiving financing in the amount of $300 million USD from the Intergovernmental Organization.
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