08:28 AM EDT, 09/13/2024 (MT Newswires) -- Imperial Ginseng Products ( IGPFF ) said Friday that it agreed to acquire gold explorer One Bullion, owner of three projects in Botswana.

As part of the deal, One Bullion must complete a concurrent financing to raise $3 million to $5 million.

Upon closing, Imperial Ginseng directors will resign and will be replaced by Adam Berk, Arno Brand, Sheldon Inwentash, Adrian Morante and Peter Sheppeard.

Berk will become CEO, Brand will be named COO and Woodhead will take over as CFO.