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Northcliff Resources Ltd. (TSX:NCF) announced it has acquired the remaining 30% interest in the Sisson tungsten-molybdenum project from Geodex Minerals Ltd. (TSXV:GDM).
Northcliff Resources Ltd. (TSX:NCF) announced it has acquired the remaining 30% interest in the Sisson tungsten-molybdenum project from Geodex Minerals Ltd. (TSXV:GDM).
As quoted in the press release:
As announced on April 18, 2012, Geodex agreed to sell its 30% interest in the Sisson Project in New Brunswick in consideration for 16,003,700 common shares of Northcliff, $1 million in cash and the return to Geodex for cancellation of 3,333,333 Geodex common shares that Northcliff purchased in 2010.
The Acquisition is subject to Northcliff shareholder approval. The Acquisition and related issuance of Northcliff shares to Geodex will be put forward to Northcliff’s shareholders for a vote at the Annual General Meeting (“AGM”).
Click here to read the Northcliff Resources Ltd. (TSX:NCF) press release.