Cassius Completes Sale of Nueva Segovia Mining S.A.
2014年6月12日 - 10:02PM
Marketwired
Cassius Completes Sale of Nueva Segovia Mining S.A.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 12, 2014) -
Cassius Ventures Ltd. (the "Company") (TSX-VENTURE:CZ) announces
that the Company's wholly owned subsidiary, Fortress de Nicaragua
S.A. ("Fortress") has sold the issued and outstanding shares of
Nueva Segovia Mining S.A. ("Nueva Segovia"), a subsidiary of
Fortress, to Avaluce S.A. ("Avaluce"), a private Nicaraguan
company.
Nueva Segovia owns the El Zúngano Concession in northern
Nicaragua, which covers approximately 23,814 hectares adjacent to
the Company's existing Nueva Segovia Concession area.
A nominal amount of consideration is being paid to Fortress for
the sale of Nueva Segovia to Avaluce. However, in acquiring Nueva
Segovia, Avaluce will be assuming the liabilities of Nueva Segovia,
which will result in a reduction of the Company's outstanding
concession rent liabilities by approximately $70,000 to
$80,000.
The Company continues to engage in discussions with the
Nicaraguan Ministry of Mines in order to restructure its key
remaining landholdings. Further updates will be provided in due
course.
John A. Thomas P.Eng
CEO and President
Eddy Canova, P.Geo., consultant to the Company and a
Qualified Person as defined by NI 43-101, has reviewed and is
responsible for the technical information contained in this news
release.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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