The Conversation (0)
Bell Copper (TSXV:BCU) has amended its purchase agreement with Copper Fox Metals to provide for the acquisition of its Sombrero Butte Property and Van Dyke BLM Claims separately by paying Bell Copper a total of C$2,000,000 total for both properties.
Bell Copper (TSXV:BCU) has amended its purchase agreement with Copper Fox Metals to provide for the acquisition of its Sombrero Butte Property and Van Dyke BLM Claims separately by paying Bell Copper a total of C$2,000,000 total for both properties.
As quoted in the press release:
Copper Fox has completed the acquisition of the Sombrero Butte Property and the Van Dyke BLM Claims by paying to Bell Copper Cdn$1,000,000 and assuming Bell Copper’s continuing obligations in respect of the Sombrero Butte Property and the Van Dyke BLM Claims.
Bell Copper has tendered into escrow all of the closing deliveries required to complete the acquisition of the Van Dyke Property pursuant to the purchase and sale and royalty agreement (the “Van Dyke Agreement”) between Bell Resources (Nevada) Corporation, a wholly-owned subsidiary of Bell Copper, and Bennu Properties, LLC, Albert W. Fritz Jr. and Edith Spencer Fritz (collectively, the “Vendors”)(see the news release issued by Bell Copper on March 12, 2012). As of the date of this news release, the Vendors have not complied with their obligation to sell the Van Dyke Property to Bell Copper, and therefore Bell Copper intends to aggressively pursue its legal rights in respect of the Van Dyke Agreement. Upon Bell Copper completing the acquisition of the Van Dyke Property from the Vendors, Copper Fox will acquire the Van Dyke Property from Bell Copper for Cdn$1,000,000.
Click here to view the full press release.
CUU:CC