Lifebrandz to acquire all shares in Papua New Guinea firm

Singapore

LIFEBRANDZ on Tuesday said it plans to acquire all the shares of Tolukuma Gold Mines, a company incorporated in Papua New Guinea that owns a non-operational gold mine there, for US$212 million.

The purchase will be made by allotting new shares to the vendor.

Tolukuma also holds five exploration licences, and has one expl…