Orbis Gold Limited (“Orbis Gold” or “the Company”) advises that it has agreed with Greenstone Resources L.P (“Greenstone”) to terminate the Subscription and Co- Operation Deed, under which Greenstone proposed to subscribe for US$20 million of Orbis Gold shares at a price of A$0.42 per share (“Greenstone Funds”). Accordingly, the General Meeting scheduled for 31 October 2014 to approve the placement to Greenstone has been cancelled.
Any valid proxies which have already been lodged will be cancelled and no new proxy need be lodged to indicate your voting instruction.
Orbis Gold's stated strategy is to advance its world-class Natougou Gold Project to production and to continue to grow its high grade Mineral Resource inventory through ongoing exploration and new gold discoveries. This strategy has received, and continues to receive, strong endorsement from the Company's shareholders, subject to a superior alternative.
For further information please download PDF attached: