TSX-V: GMN
TORONTO, July 9, 2015 /CNW/ - (TSXV: GMN) GobiMin
Inc. (the "Company" or "GobiMin") is pleased to announce that its
wholly owned subsidiary has entered into a provisional agreement
(the "PA") to acquire an office property in Hong Kong (the "Acquisition") from an
independent third party (the "Vendor").
In light of the low interest rates and the soaring property
prices in Hong Kong, the Company
expects that rental prices will keep increasing. Therefore,
the Company proposes to purchase an additional office property to
cope with its future business expansion. The Company may
fully settle the consideration of the Acquisition and the related
stamp duty and agent commission for about USD2.18 million (HKD16,900,000) by its own cash or fund it partly
by bank mortgage.
Terms of the Acquisition
The total consideration of the Acquisition is approximately
USD2.0 million (HKD15.55 million). An initial deposit of
about USD64,000 (HKD0.5 million) was paid upon signing of the
PA. The formal Sales and Purchase Agreement will be signed by
late July 2015 with the payment of a
further deposit of USD136,000
(HKD1.055 million). The
Acquisition will be completed by November
2015 when the balance of the consideration of about
USD1.8 million (HKD13.995 million) will become payable.
USD1 = HKD7.77
"Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release."
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SOURCE GobiMin Inc.