Worldstar Energy, Corp. (WSTR.OB) announced that the company has officially completed a share purchase agreement with the shareholders of Bulgan Gold Investment Limited (GIL) and Bulgan Gold Limited (BGHK).
Per the stipulations of this agreement, Worldstar will acquire 2% of the issued and outstanding Bulgan GIL shares and acquire 18% of the issued and outstanding BGHK shares. Subsequently, Bulgan GIL and BGHK will receive $1,000,000 in cash from Worldstar and 10,208,791 of Worldstar’s common shares without par value. The total number shares outstanding for WSTR.OB will total 67,970,625 after this agreement is wholly recognized.
As a result of this acquisition, Worldstar will own 100% of the National Base Investment Limited company. Because National Base Investment Limited holds 70% ownership of BGHK and 100% ownership of Bulgan Gold LLC, Worldstar will use National Base as a vehicle for this acquisition.
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