Caracal Gold PLC (LSE:GCAT) confirmed that it has completed the acquisition of the Nyakafuru gold project in Tanzania by issuing 133,333,334 shares as a full and final settlement.
This replaces deferred previous consideration terms including deferred payments and a net smelter royalty.
The company said it is working with its advisers to seek approval for its prospectus with the Financial Conduct Authority.
Caracal chief executive Robert McCrae: "Closing out the acquisition of the Nyakafuru project is a key step to allow us to finalize the joint venture for the development of the project, we look forward to providing the details of the joint venture to the market in the near future."