GBGD: TO ACQUIRE 100% OF TUKHMANUK MINE IN ARMENIA
Knobias.com
August 2, 2006 Wednesday 4:45 PM Eastern Time
Global Gold Corporation (GBGD) announced the planned acquisition of
the remaining 49% of Mego-Gold, LLC, the company holding the licenses
to the Tukhmanuk mine and exploration areas in Armenia. According
to the August 1, 2005 acquisition agreement, Global Gold Mining,
LLC acquired a 51% interest for $1.5 million and was to pay another
$2 million by August 1, 2007; the agreement, amended as of July 19,
2006, allows for the acquisition of the remaining 49% in exchange
for $1 million and 500,000 shares of Global Gold Corporation’s stock.
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