The transaction will be made in exchange for one common share of the company for each Talos common share which is issued and outstanding.
Talos currently has 24.4 million issued and outstanding common shares and holds three mineral exploration licenses in the Kono and Bo districts of Sierra Leone.
The Talos licence area located in the Nimini Hills greenstone formation is in the Kono District in Eastern Sierra Leone.
The closing of the acquisition is subject to conditions precedent, including obtaining required regulatory approvals.
