Business
Eco Oro Minerals Announces Asset Purchase Agreement with Sociedad Minera de Santander S.A.S.
VANCOUVER, July 9, 2018 /CNW/ - Eco Oro Minerals Corp. (CSE: EOM) (the "Company") is pleased to announce that, on July 6, 2018, it signed a binding asset purcha
About this update from Eco Oro Minerals Corp.
[{"type":"text","content":"VANCOUVER, July 9, 2018 /CNW/ - Eco Oro Minerals Corp. (CSE: EOM) (the \"Company\") is pleased to announce that, on July 6, 2018, it signed a binding asset purchase agreement (the \"Agreement\") with Sociedad Minera de Santander S.A.S. (\"Minesa\") to sell to Minesa Eco Oro's interests in certain mining and land titles located near Minesa's project in the Santander Department of Colombia, along with technical information and ancillary assets relating to the mining licenses. The two mining titles included in the Agreement are mineral claims 13921 and 0127-68. These titles are unrelated to Eco Oro's Angostura Project and Concession 3452, which are the subject of Eco Oro's ongoing arbitration against the Republic of Colombia and in relation to which Minesa has acquired no interest. Pursuant to the terms of the Agreement, Minesa will pay the Company an aggregate purchase price of US$5,000,000 upon completion of the transaction. Completion of the asset purchase agreement is subject to the satisfaction of certain conditions precedent. Company Profile Eco Oro Minerals Corp. is a publicly-traded company and its arbitration against the Republic of Colombia is its core focus. Forward-Looking Statements This news release includes \"forward-looking information\" and \"forward-looking statements\" (collectively, \"forward-looking statements\") within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements that involve known and unknown risks and uncertainties. Forward-looking statements are generally, but not always, identified by the words \"expects\", \"plans\", \"anticipates\", \"seeks\", \"claims\", \"asserts\", \"in the event\", \"if\", \"believe\", \"assets\", \"position\", \"intends\", \"envisages\", \"assumes\", \"recommends\", \"estimates\", \"approximate\", \"projects\", \"potential\", \"indicate\" and similar expressions, or that events or conditions \"will\", \"would\", \"may\", \"could\" or \"should\" occur. Forward-looking statements are necessarily based upon the current belief, opinions and expectations of management that, while considered reasonable by the Company, are inherently subject to significant litigation, business, economic, competitive, political and social uncertainties, risks and other contingencie...