Soma Gold acquires second subsidiary in Colombia

Canadian miner Soma Gold announced that it will now have a Colombian subsidiary in Four Points Mining. To make Four Points its 100%-owned subsidiary, it has entered into a share purchase agreement with two arm’s length parties, Mineral FF S.A.S. and Rulvix Holding Inc., to purchase 25,992 common shares in the capital of Four Points. Under the terms of the agreement, Soma has to issue 1,218,232 common shares to the vendors at a deemed issue price of $0.55 per consideration share, which represents a 2.01% equity ownership in the company. Four Points is the owner and operator of the El Limón mine located in Colombia’s northwestern Antioquia department.

Source: Mining