In return, Ironridge will issue 1,550,388 shares at 18p each to the seller, Major Star. The issue price is at a significant premium to IronRidge's current share price of 11.75p, which was up 1.1% on Friday's close.
Previously reported high-grade air core drilling results from the Bianouan licence include 12 metres grading 5.87 grams per tonne gold, eight metres at 1.29 grams, and one metre 3.13 grams.
"Identifying acquisition opportunities that are attractive for the company and its shareholders remains a key priority for our business,” said Ironridge chief Vincent Masolo in a statement.
“We are therefore delighted to have completed these significant acquisitions ahead of schedule, and for an issue of scrip priced at a significant premium to the prevailing market. The Bodite and Bianouan gold licenses complement our flagship Zaranou gold license and represent a highly prospective ground holding with high-priority air core drilling intersections and significant soil anomalies.”