Nov 14 (Reuters) - European Cobalt Ltd EUC.AX :
* EXCLUSIVE OPTION AGREEMENTS ENTERED INTO WITH SHAREHOLDERS OF MAROON GOLD PTY LTD TO ACQUIRE 100% OF ITS ISSUED CAPITAL
* CONSIDERATION FOR PROPOSED ACQUISITION OF ISSUE OF 900.3 MILLION SHARES ISSUED IN CO, PAYMENT OF A$100,000 CASH CONSIDERATION
* CONSIDERATION ALSO COMPRISES REPAYMENT OF A$2 MILLION CONVERTIBLE NOTE, ASSUMPTION OF US$18.3M (NYSE:MMM) OF DEBT
* CO WILL BE RENAMED MOJO MINERALS LTD UPON COMPLETION OF PROPOSED ACQUISITION
* PROPOSED ACQUISITION SUBJECT TO SHAREHOLDER APPROVAL AND COMPLETION OF DUE DILIGENCE