November 20, 2000
Conquest entered an agency agreement with LOM Capital Limited of Hamilton, Bermuda, for a CDN$2.6-million convertible debenture financing. The funds will be used to acquire a 90% interest in the Babs and Beehive gold mines located in Zimbabwe.
November 1, 2000
Conquest Resources has reached agreement, subject to regulatory approval and closure of a proposed debenture financing, to acquire a 90% interest in the Babs and Beehive gold mines, situated near Kwekwe in central Zimbabwe. The consideration is US$1.5-million. The mines were formerly owned by African Gold PLC of the United Kingdom. The acquisition will be financed through the placement, subject to regulatory approval, of convertible debentures in the principal amount of $2.6-million.
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