FCMI Financial Corp. executed an asset purchase agreement to acquire assets from Ghana Gold Corporation for CAD 4.4 million.

FCMI Financial Corp executed an asset purchase agreement to acquire assets from Ghana Gold Corporation (OTCPK:GGCO) for CAD 4.4 million on July 18, 2013. The deal includes up to CAD 0.28 million for restructuring expenses; CAD 0.2 million to Romex Group to terminate certain agreements; royalties owed to the government of Ghana on the Romex agreements, estimated at CAD 0.29 million, repayment of the balance on CAD 0.75 million in debtor-in-possession financing, estimated at CAD 0.6 million and repaying CAD 3 million outstanding on a promissory note. Justice Herman J. Wilton-Siegel of the Ontario Superior Court of Justice in Toronto signed an order approving the sale on July 25, 2013.

Ghana Gold Corp. has won approval.