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Lifebrandz to acquire goldmine business after dumping health and wellness plans

PC Lee Published on Tue, Jul 12, 2016 / 10:11 PM GMT+8

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SINGAPORE (July 12): Lifebrandz is making a foray into the goldmining industry.

Lifebrandz said it had entered into a non-binding term sheet on Tuesday with Asidokona Mining Resources to acquire the entire issued and paid-up share capital of Tolukuma Gold Mines.

The purchase consideration of US$212 million ($286 million) will be satisfied in its entirety by the allotment and issue of new Lifebrandz shares.

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