Pershing Gold Announces Sale of Uranium Assets

Pershing Gold Corporation (OTCBB:PGLC) announced it has sold all its interest in uranium exploration properties to American Strategic Minerals Corporation (OTCBB:ASMC).

As quoted in the press release:

In January 2012 Pershing and Amicor entered into an Option Agreement under which Amicor acquired the option to purchase Pershing’s uranium properties. As consideration for the option, Pershing received a $1,000,000.00 non- interest-bearing promissory note, ($930,000.00 of which has been repaid), and 10 million shares of Amicor common stock, of which Pershing has sold 820,000. Amicor exercised its option to acquire the uranium properties and paid the $10.00 exercise price. With the completion of this transaction on June 11, 2012, Pershing has divested all of its uranium assets. Pershing continues to hold 9,180,000 shares in Amicor.

Click here to read the Pershing Gold Corporation (OTCBB:PGLC) press release.