Century Iron Mines Corporation Announces the Conclusion of Negotiations

Century Iron Mines Corporation (TSX:FER) and WISCO announced they have concluded negotiations and agreed to a joint venture.

As quoted in the press release:

Agreements will be executed following completion by WISCO Resources of certain internal formalities, at which time the Company will provide a further news release. Under the definitive joint venture agreements, WISCO Resources will invest an aggregate of $120 million in exchange for a 40% interest in each of the three projects.

Century Iron’s President and CEO, Sandy Chim said,

We have again achieved an important milestone in the history of our Company. Our successful conclusion of the negotiations with WISCO Resources enables us to expand and expedite the exploration of our Duncan Lake, Attikamagen and Sunny Lake projects with WISCO Resources as our key strategic partner. The funding of these projects under the joint venture agreements will enable us to execute on our significant exploration plans for each of these projects.

Click here to read the Century Iron Mines Corporation (TSX:FER)  press release.