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Company News

BRIEF-Avesoro Resources to acquire Youga Gold Mine and Balogo Gold Mine

Oct 31 (Reuters) - Avesoro Resources Inc

* Avesoro resources inc. - proposed acquisition of the Youga Gold Mine and Balogo Gold Mine from Avesoro Jersey Limited and placing of new common shares to raise approximately £15.2 million and broker option

* Avesoro Resources Inc - deal value for US$69.5 million

* Avesoro Resources Inc - increases forecast proforma 2017 gold production to 180-190 koz

* Avesoro Resources Inc - increases forecast combined gold production for 2018 by approximately 60% to 230koz

* Avesoro Resources Inc - raised about £15.2 millionthrough a placing of 797.4 million placing shares at 1.9 pence per share Source text for Eikon: Further company coverage:

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