RTO may raise AP Strategic value above $500m

Singapore

FUNERAL services provider Asia-Pacific Strategic Investments (AP Strat) has revealed more details about its reverse takeover (RTO) deal to become an Armenian gold miner.

The company said yesterday that it had entered into a conditional sale-and-purchase agreement with vendor GR Business Holdings, a joint venture held by investment company China Global Energy and Resources (51 per cent) and businessman George Richmond (49 per cent), to buy Coeur Gold Armenia for $500 million. Coeur holds mining rights in Armenia.