Aldershot Receives Approval For Purchase Of Royal Uranium

Aldershot Resources Ltd. (TSXV:ALZ) announced it has received approval from the TSX to  purchase 100% of the stock of Royal Uranium Inc. for US$160,000.

As quoted in the press release:

The financing for this purchase will be through a loan from Royal Resources Ltd. (Lender) in the amount of AU$170,000 and Aldershot can request advances to the loan. The terms of the loan are: 1) the loan shall be repaid in full when called by the Lender; 2) the interest is to be paid based on a 90 day bank bill swap rate + 4 % per year, and calculated quarterly and accumulated, and the interest shall be paid when called by the Lender. Completion of the acquisition of Royal Uranium Inc. remains subject to acceptance from the TSX Venture Exchange. Royal Resources Ltd. holds approximately 42% of the issued and outstanding shares of the Company. Messrs. Philip Crabb and Marcus Flis are directors of the Aldershot Resources Ltd. and Royal Resources Ltd..

Click here to read the Aldershot Resources Ltd. (TSXV:ALZ) press release.