Key points
- Afri-Can issued 662,640 common shares to Woduna Mining Holding (Pty.) Ltd. on Sept. 20, 2001.
- The shares were issued instead of a cash payment to increase Afri-Can’s undivided interest in concession block J in Namibia to 40 per cent.
- The underlying agreement between the parties was dated Sept. 19, 2001.
- The Canadian Venture Exchange authorized the transaction on Nov. 30, 2001, the subject of the bulletin being clarified.
The company has provided clarification on Canadian Venture Exchange bulletin of Nov. 30, 2001. On Sept. 20, 2001, the 662,640 common shares issued to Woduna Mining Holding (Pty.) Ltd. are in consideration for the increase of Afri-Can’s undivided interest to 40 per cent in the concession block J in Namibia, instead of a cash payment. This agreement intervened on Sept. 19, 2001, has been authorized by the CDNX on Nov. 30, 2001.
