Caledonia Mining Corporation Plc (CMCL) to Acquire Bilboes Gold Project in Zimbabwe for 5.12M CMCL Shares

Caledonia Mining Corporation Plc Transaction to acquire the Bilboes gold project in Zimbabwe

ST HELIER, Jersey, July 21, 2022 (GLOBE NEWSWIRE) -- (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) Caledonia Mining Corporation Plc (Caledonia or the Company) is pleased to announce that it has signed an agreement to purchase Bilboes Gold Limited, the parent company which owns, through its Zimbabwe subsidiary, Bilboes Holdings (Private) Limited (Bilboes Holdings), the Bilboes gold project in Zimbabwe (Bilboes or the Project) for a total consideration of 5,123,044 Caledonia shares representing approximately 28.5 per cent of Caledonias fully diluted equity, and a 1 per cent net smelter royalty (NSR) on the Projects revenues (the Transaction). Based on... More