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Horizonte Minerals plc, (TSX:HZM, AIM:HZM) announced it has completed the purchase of the Vila Oito and Floresta nickel laterite projects.
Horizonte Minerals plc, (TSX:HZM, AIM:HZM) announced it has completed the purchase of the Vila Oito and Floresta nickel laterite projects.
As quoted in the press release:
The Vila Oito and Floresta nickel laterite projects, which are located adjacent to Horizonte’s 100% owned Araguaia nickel project, have been acquired from the Brazilian affiliate of Canadian-listed Lara Exploration Ltd (‘Lara’) (TSX: LRA).
The total consideration for the acquisition comprises 8.5 million new ordinary shares (‘the Consideration Shares’) which will be issued to Lara and equate to C$2 million based on the 20 day average price to 10 January 2011, as per the original Heads of Agreement announced on 18 January 2011.
Click here to read the Horizonte Minerals plc, (TSX:HZM) press release.