POLYMETAL BUYS GOLTSOVOYE SILVER FIELD FROM OVOCA GOLD FOR 11 MILLION DOLLARS

摘要

Polymetal, Russia's biggest silver producer and a major gold producer, has closed the acquisition of 100 percent CJSC Ayax, a subsidiary of Britain's Ovoca Gold that holds the license to the Goltsovoye silver field in Russia's Magadan region, in Polymetal said on January 23. Polymetal and a third party had acquired all of Ayax's shares in exchange for the transfer of 7.5 million common shares in Polymetal under the deal. It said all the terms of the Sale and Purchase Agreement (SPA) of December 19 to buy Ayax for cash and shares and a Deed of Novation had been fulfilled.