On October 28, 2019, Azumah Resources Limited announced that IGIC Pte Ltd has agreed with the Company to increase its off-market cash takeover offer for all the shareholder’s shares in the Company to 3.3 cents per share. The Company stated that Ibaera has declared the increased offer to be its last and final offer for the Company ordinary shares. In addition, the Directors of the Company recommended shareholders to accept the increased offer in the absence of any superior proposal.