Arundel AG (SWX:ARON) signed an agreement in principle to acquire 100 acres of land near a major industrial area in Tamil Nadu on January 21, 2016. The land is being acquired in exchange for 4.1 million Arundel AG shares and a further cash investment. The land will be acquired following the satisfactory completion of legal due diligence, receipt of a formal valuation from an international valuation firm and agreement of the terms of the acquisition agreement. Arundel AG (SWX:ARON) cancelled the acquisition of 100 acres of land near a major industrial area in Tamil Nadu on January 21, 2017.