Bezant has completed the acquisition of 100% of Colombian Mining Data SA, formerly named Birkenhead Estates SA.
CMD is a special purpose vehicle which holds, inter alia, certain proprietary geological information and other data and intellectual property rights to be utilised by Exumax S.A.S.in performing its services under the exploration agreement, further details of which were announced on 7 September 2016.
The Exploration Agreement secured the exploration and management services of Exumax, a Colombian based alluvial mining company, in respect of a planned 24-month exploration and development programme for the Company's near surface platinum and gold assets located in the Choco Region of Colombia over which it holds certain options. In accordance with the terms of the share purchase agreement between (i) the Company, (ii) Verona Investment Group Inc.and (iii) the founders of Verona, the Company is issuing 7,201,745 new ordinary shares of 0.2 pence each in the capital of the Company to Verona representing approximately 3.51 per cent. of the Company's enlarged issued share capital.