Agreement reached for Settlement of Cosmo Gold Loan

Adelong Gold Limited (ASX: ADG) has executed a binding agreement with Sarama Resources Ltd. and Cosmo Gold Ltd. to settle an outstanding loan. Under this agreement, Adelong will receive fully paid ordinary shares and options in Sarama, valued at over AU$500,000, in full settlement of the loan obligations owed by Cosmo to Adelong. This strategic move enables Adelong Gold to strengthen its position and streamline its financial commitments while potentially benefiting from the

In the settlement, Adelong will receive 25 million ordinary shares and 7.5 million options in Sarama, valued at approximately AU$ 550,000 based on Sarama’s recent share price. Additionally, Sarama can acquire Cosmo's remaining 20% interest in the project for AU$1.25 million within two years. Other conditions include obtaining necessary approvals, assignment of land access agreements, and maintaining project tenure.

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