Cardero Announces Letter of Intent to Acquire the Trefi Metallurgical Coal Property

Cardero Resource Corp. (TSX:CDU,AMEX:CDY,FWB:CR5) announced its intent to acquire the British Columbia-based Trefi coal property.

As quoted in the press release:

In consideration of the payment of CAD 3.5 million, and the issuance of 500,000 common shares of the Company plus warrants to acquire an additional 1,000,000 common shares of the Company at a price of CAD 1.40 per share for a period of 18 months after closing, Cardero will be granted the option (“First Option”) to acquire 50% of the issued shares of Trefi.

Click here for the Cardero Resource Corp. (TSX:CDU) press release.