TORONTO, Nov. 11, 2014 /CNW/ - Qatar Mining Company Q.S.C. ("QMC"), through QM Luxembourg S.À R.L., entered into an agreement with AUX Luxembourg S.À R.L. for the sale and purchase of the entire issued share capital of AUX Acquisition S.À R.L. ("AUX"), AUX Acquisition 2 S.À R.L. ("AUX 2") and AUX Acquisition 3 S.À R.L. (together with AUX and AUX 2, the "Target Companies") (the "Acquisition"). The closing of the Acquisition is expected to occur in the fourth quarter of 2014, subject to satisfaction of certain conditions.
In addition to the global assets held by the Target Companies, AUX 2, through AUX Canada Acquisition 2 Inc., beneficially owns an aggregate of 28,982,394 common shares of Galway Gold Inc. (the "Company") (the "Shares"), representing approximately 17.41% of the issued and outstanding capital of the Company. After giving effect to the completion of the Acquisition, QMC will beneficially own an aggregate of 28,982,394 Shares of the Company.
The Shares will be held for investment purposes only. QMC may from time to time acquire additional securities of the Company, sell all or any portion of its holdings or to enter into other transactions with respect to the Shares owned by QMC, in each case subject to market conditions, applicable laws and other relevant factors.
For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation, please go to the Company's profile on SEDAR at www.sedar.com.
SOURCE: Qatar Mining Company Q.S.C.
For further information: Kieran Toohey, Director, Blue Rubicon, Office: +974 4020 6061, Mobile: +974 3374 1085, Email: Kieran.Toohey@bluerubicon.com; Ghaith Al-Faqih, Senior Consultant, Blue Rubicon, Office: +974 4020 6061, Mobile: +974 7478 1777, Email: Ghaith.Al-Faqih@bluerubicon.com