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Deal #1359 Version #87872

Guinea

Created at

2013-02-15

Last update

2022-08-22

Last full update

2024-04-25

Land area

Intended size

98 400 ha

Size under contract (leased or purchased area)

[2010-09-16, current] 8815 ha

Comment on land area

Land & Resources and MAG entered into an Option Agreement (the “Option Agreement”) pursuant to which Land & Resources was granted an option to assume a lease of approximately 98,400 hectares (243,151 acres) located in the village of Saraya in Guinea (the “Option Land”). Pursuant to the Contract for a Program of Agricultural Development in Guinea dated September 16, 2010 (the “Contract for Development”), MAG has agreed to grant to Land & Resources 99-year leases over two parcels of land in the villages of N’Dema and Konindou of 5,340 and 3,475 hectares respectively to be developed as agricultural land

Intention of investment

[2010-09-16, current] Food crops (8815 ha)

Nature of the deal

Lease

Negotiation status

[2010-09-16, current] Concluded (Contract signed)

Comment on negotiation status

99 year lease signed with an Option Agreement (the “Option Agreement”) pursuant to which Land & Resources was granted an option to assume a lease of approximately 98,400 hectares (243,151 acres) located in the village of Saraya in Guinea (the “Option Land”) on 16:09:2010. The company was incorporated under the name Kryptonic entertainment Inc in October 11 2007.By 11 April Changed it name to FLG

Implementation status

Comment on implementation status

During the three months ended June 30, 2011, the Company completed the exploration and mapping of Saraya property comprising 98,400 hectares of Option Land.

Contract farming

Yes