Brief: Karora Resources Announces Agreement To Sell Its Remaining 28% Interest In The Dumont Nickel Project
22/07/2020 14:27
July 22 (Reuters) - Karora Resources Inc KRR.TO :
* PRESS RELEASE - KARORA RESOURCES ANNOUNCES AGREEMENT TO
SELL ITS
REMAINING 28% INTEREST IN THE DUMONT NICKEL PROJECT FOR PROCEEDS
OF UP TO $48 MILLION AND ANNOUNCES SHARE CONSOLIDATION
* KARORA RESOURCES INC - AT CLOSING, KARORA WILL GET $10.7
MILLION
* KARORA RESOURCES - ON A SALE OR OTHER MONETIZATION EVENT,
WILL
BE ENTITLED TO GET 15% OF NET PROCEEDS FROM TRANSACTION
* KARORA RESOURCES - WATERTON TO ASSUME OPERATION,
MANAGEMENT OF
DUMONT PROJECT THROUGH EXISTING MANAGEMENT STRUCTURE UPON DEAL
CLOSE
Source text for Eikon: ID:nCNWn2ppDa
Further company coverage: KRR.TO
((Reuters.Briefs@thomsonreuters.com;))
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