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AuStar Announces Completion of Rose of Denmark Gold Mine Acquisition

AuStar Gold Limited (ASX:AUL) (‘AuStar’ or ‘the Company’) is pleased to announce that the Company has now completed the acquisition of the remaining 51% of Mining Licence MIN 5299 which hosts the highly prospective Rose of Denmark high grade gold mine (refer to the Company’s ASX release dated 13 June 2018).

In accordance with the terms of the acquisition, the Company has issued to Shandong Tianye Real Estate Development Group Co Ltd:

- 28,517,110 ordinary shares, calculated by dividing the purchase price of $225,000 by the 5 day VWAP prior to completion of 0.00789. These shares have a 12 month selling restriction; and

- 30 million unlisted options with an exercise price of 1.5 cents, expiring on 30 November 2019; and

- 15 million unlisted options with an exercise price of 2 cents, expiring on 30 November 2021.


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