Blackstone Acquires 100% Interest in Norway Projects From Xstrata Nickel

Blackstone Ventures Inc. (TSX VENTURE:BLV) announced that Blackstone and Xstrata Nickel have renegotiated the terms under which Blackstone will acquire 100% of the shares in Sulfidmalm A/S.

The press release is quoted as saying:

Under the original terms of the agreement Blackstone would have acquired 100% of the shares in Sulfidmalm and hence 100% of Sulfidmalm’s interest in all its Norway nickel exploration projects for a total cumulative payment of US$15.5 million to be completed no later than December 31, 2012 of which a total of US$6.5 has already been paid to Xstrata Nickel. The Norway nickel projects include the Stormyra, Dalen and Ertelien Nickel-Copper Deposits.

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