Adventus Holdings says Adventus NZ, its wholly-owned subsidiary incorporated in New Zealand, has agreed to buy the coal-mining permits, land, plant and equipment located at Boatmans’ Creek, Town of Capleston, New Zealand, from Medha International for US$8.6 million ($11.4 million).

Adventus says the proposed acquisition will allow the company to pursue the mandate given by its shareholders on 20 November 2009 to pursue the business of commodities and mineral resources management, ownership, exploration, mining and development activities.

The company adds that the acquisition will also be satisfied by internal resources, the proceeds of the placement Exercise announced by the company on 31 August and the convertible bond issue approved by shareholders on 9 June 2009.