BRIEF-Santa Fe Gold terminates Tyhee merger agreement

March 21 (Reuters) - Santa Fe Gold Corp SFEG.PK :

* Santa Fe Gold says has provided Tyhee with notice of its election to terminate the merger agreement

* If Tyhee fails to consummate a qualified financing of at least $20 million on or before march 15, then co may elect to terminate agreement

* Co's independent special committee has determined that it

is in best interest of santa fe to terminate merger

* Intends to resume discussions with certain private equity funds that have previously expressed an interest in pursuing deal with co

* Merger agreement provides Tyhee shall promptly pay co a "break fee" of $300,000 if Santa Fe terminates the merger agreement

* Source text for Eikon News Search ID:nPn3tNN1k

* Further company coverage SFEG.PK

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