Business
SOLID RESOURCES SIGNS DEFINITIVE AGREEMENT TO SELL BEAR PROPERTY
Feb. 15, 2011 (Canada NewsWire Group) -- VANCOUVER, Feb. 15 /CNW/ - Solid Resources Ltd. (...
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[{"type":"text","content":"\n\n\n\n Feb. 15, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n\n\nTSX-V:             \n\n\nSRW   \n\n\n\n\nFRANKFURT: \n\n\nYRS\n\n\n\n\nVANCOUVER, Feb. 15 /CNW/ - Solid Resources Ltd. ("Solid" or the "Corporation") (TSX-V: SRW) (Frankfurt: A0BLQQ) announced today that, further to the letter of intent announced on April\n 30, 2010, it has entered into a definitive agreement to sell its 49%\n interest in the Bear mineral property located in the Northwest\n Territories (the "Bear Property") to Silver Bear Mines Inc. ("Silver Bear"), subject to TSX Venture Exchange approval.  The Corporation received\n the requisite shareholder approval for the sale of the Bear Property at\n the annual general and special meeting held on December 13, 2010.  For\n a further description of the proposed transaction, see the related\n Management Information Circular dated November 8, 2010 and filed on\n SEDAR at www.sedar.com on November 18, 2010.\n\n\nThe purchase price for the 49% interest in the Bear Property is\n $3,000,000, and shall be payable: (i) by the assumption of debt (the "Assumed Debt") owing by the Corporation to certain lenders in the aggregate amount\n of $1,944,191; and (ii) by the issuance and delivery of 1,250,000\n common shares in the capital of Silver Bear ("Silver Bear Shares") having an aggregate value of $1,055,809.
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