Anglo-Bomarc Mines Ltd. (TSXV:ANB) entered into a letter agreement to acquire a 50% stake in Golden Jade Property from Golden Jade Mining Inc. for CAD 1.1 million in stock on August 25, 2014. Under the terms, Anglo will issue 28 million shares as consideration. As part of the transaction, Anglo has appointed Eva Miao and William Li to the Board of Directors and as Vice-Presidents of Anglo.

In addition, Anglo has appointed Eva Miao as Chief Operation Officer and William Li as Chief Mining Officer to assist Anglo to complete the transaction, raise capital and continue operation. Further, Miao will be appointed as Audit Committee Chair. Concurrently with the acquisition, Anglo will conduct a private placement pursuant to which it will issue 40 million common shares.

The deal is subject to approval from TSX Venture Exchange, completion of private placement, execution and delivery of the definitive agreement, due diligence, approval by TSX and Anglo board of directors' approval.