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Ecometals Limited: Update re Closing of Proposed Sale of Condor Gold Project
Apr. 07, 2010 06:47PM PST
Base Metals Investing Ecometals Limited reported that it has agreed to a further extension to the closing of the SPA with Alca Gold Limited and its financial backers for their acquisition of Ecometals’ shares in Condormining Corporation S.A. and Condorview S.A. for US$9,000,000 to be satisfied in cash. Both parties have agreed their intention to extend the closing with cash payment on 23rd April, failing which Ecometals will terminate the Agreement.
Ecometals Limited reported that it has agreed to a further extension to the closing of the SPA with Alca Gold Limited and its financial backers for their acquisition of Ecometals’ shares in Condormining Corporation S.A. and Condorview S.A. for US$9,000,000 to be satisfied in cash. Both parties have agreed their intention to extend the closing with cash payment on 23rd April, failing which Ecometals will terminate the Agreement.
The press release is quoted as saying:
Ecometals Limited is a Canadian-listed mineral exploration and development company focused on mineral resources in Latin America. Apart from its gold exploration in Ecuador, Ecometals also has significant manganese and iron projects in Brazil at grass roots and development planning stages.
Click here to access the entire press release