Brief: Gowest to acquire 50 pct ownership interest in Redstone Mill

Gowest Gold

16/06/2017 12:45

June 16 (Reuters) - Gowest Gold Ltd  GWA.V - 
    * Gowest to acquire 50% ownership interest in Redstone Mill 
    * Gowest Gold Ltd - Gowest and Northern Sun enter into a 
definitive agreement to operate mill as a 50/50 joint-venture 
    * Upon completion of transaction, co, Northern Sun Mining, 
will hold a 50% interest in jvco 
    * Gowest GOLD LTD - gowest, northern sun and jvco will enter 
into a unanimous shareholder agreement 
    * Gowest gold ltd - assets will be transferred to jvco free 
and clear of all liens or encumbrances 
    * Gowest GOld Ltd - redstone mill is currently wholly-owned 
by northern sun and has capacity to process approximately 1,500 
tonnes of ore-per-day 
    * Gowest Gold - jvco will assume obligations, liabilities 
relating to redstone mill, in exchange for shares of jvco having 
aggregate deemed value of $23 million 
 
Source text for Eikon:  ID:nCCNK47ZCa  
Further company coverage:  GWA.V  
 
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