California-based used automobiles retailer Azure Holding Group Corp. finalized on May 28 its acquisition of Eragon Mining for an undisclosed amount.

Eragon is a precious metals exploration and mining company with mining property assets in Southern California.

In a statement, Azure Holding President Charles Townsend said the acquisition will allow them to begin gold extraction operations at Eragon's gold-rich Mission Mine in Riverside and San Bernardino counties.

"The great thing about this acquisition is that Mission Mine already has an excavation infrastructure in place that only needs updating. With timely investments, Mission Mine will be fully operational and self-sustaining within a few months of operation," said Eragon President Nawid Wadood.