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Equatorial Resources Limited to acquire the Nimba Alliance Iron Ore Project in Guinea, West Africa.
Project consists of major landholdings in Guinea's Nimba Iron Ore Corridor, including 100% ownership of the Nimba West permit and 56% of the Nimba North permit.
Acquisition is subject to due diligence, and consideration for the acquisition includes 5,000,000 shares in Equatorial upon settlement and an additional 5,000,000 deferred shares upon the renewal or extension of the Nimba West permit.