Shanta Gold delivers termination notice to Helio Resource

Shanta Gold, has delivered notice to Helio Resource Corp of its termination of the arrangement agreement dated as of 19 June 2017.

The East Africa focused gold producer and developer made this decision as a result of the potential impact on Helio of the bills signed into law in Tanzania on 10 July 2017.

Hence, Shanta Gold would not be acquiring all of the issued and outstanding common shares of Helio as announced previously.

The company's shares were down -7.69% to 3.00p by 08:25 BST