The Canadian Press reports Balkans Gold Ltd. controlled by EurOmax, has signed a binding deal to acquire 100 per cent of West African Resources Ltd.
West African is an exploration company with an advanced gold project in Burkina Faso and exploration permit applications in Niger.
Following the acquisition, EurOmax will have nine million shares and 4.5 million options, about 14 per cent and 12 per cent of the issued shares and options of the company.
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