In consideration for acquiring a 90% interest in Cheetah B.C., Invicta has agreed to settle approximately $15 million in liabilities and will contribute a further $10 million in additional capital to Cheetah B.C. on or before December 31st 2008, which will be applied to further exploration and development work on Cheetah's licenses in Papua New Guinea.
On November 16th 2007, Invicta announced that it was progressing to close a non brokered private placement of shares of up to $45 million.
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