Advance Gold Corp.is pleased to announce that Aviva Corporation Ltd. ("Aviva"), its joint venture partner in Kenya, has entered into a binding sale and purchase agreement ("SPA") with African Barrick Gold plc ("ABG" LSE: ABG) to sell all of Aviva's Kenyan gold and base metals assets for an initial cash payment of A$20 million.ABG is one of the five largest gold producers in Africa and this acquisition represents its first move into Kenya. ABG is majority owned by Barrick Gold Corporation (NYSE & TSX: ABX), the world's largest gold producer.The key terms of the SPA are as follows:
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AVIVA is a development stage company based in Australia.
AVIVA holds various exploration projects in Botswana.
Its main exploration property is MMAMANTSE in Botswana.