BRIEF-Arcus Development Group to purchase Dawson Gold Joint Venture assets

Tue Aug 2, 2016 10:58am EDT
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Aug 2 (Reuters) - Arcus Development Group Inc :

* Arcus to purchase Dawson gold joint venture assets

* As payment for ATAC's 50% interest in 4 JV, Arcus will issue ATAC 10.9 million common shares and 5 million share purchase warrants

* Warrants will entitle ATAC to buy additional 5 million Arcus shares at $0.20/share at any time within five years after closing of deal

* 10.9 million shares being issued to ATAC will result in ATAC holding 19.99% of co's share capital following completion of deal Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)