Caledonia Mining Corporation has announced that, following the satisfaction of conditions precedent, it has completed the acquisition of Bilboes Gold.

Bilboes is the parent company which owns, through its Zimbabwe subsidiary, Bilboes Holdings, the Bilboes gold project in Zimbabwe.

As a reminder, the total consideration payable is, subject to adjustment, 5,123,044 shares representing approximately 28.5 per cent of Caledonia’s fully diluted share capital and a 1 per cent net smelter royalty on the project’s revenues.

Based on the last trading day’s closing share price on NYSE American of US$12.82 per share, the value of the maximum number of new shares that could be issued as consideration if there is no adjustment is currently US$65,677,424.

Caledonia Mining Corporation has announced that, following the satisfaction of conditions precedent, it has completed the acquisition of Bilboes Gold.

Bilboes is the parent company which owns, through its Zimbabwe subsidiary, Bilboes Holdings, the Bilboes gold project in Zimbabwe.

As a reminder, the total consideration payable is, subject to adjustment, 5,123,044 shares representing approximately 28.5 per cent of Caledonia’s fully diluted share capital and a 1 per cent net smelter royalty on the project’s revenues.

Based on the last trading day’s closing share price on NYSE American of US$12.82 per share, the value of the maximum number of new shares that could be issued as consideration if there is no adjustment is currently US$65,677,424.