MONTEVIDEO, Uruguay--(BUSINESS WIRE)--
Orosur Mining Inc. (“Orosur” or “the Company”) (TSX/AIM: OMI), a South American-focused gold developer and explorer announces that it has entered into a non-binding letter of intent to sell its mining and exploration permits in Uruguay to IMC International Mining Corp (“IMC”) (CNSX:IMCX) for a US$1 million cash consideration.
The Company has entered into a non-binding letter of intent to sell its mining and exploration permits in the San Gregorio area of Uruguay to IMC for a cash consideration of US$1 million, subject to satisfactory completion of due diligence by IMC within 45 days. If the sale is completed, the proceeds will be used to pay liabilities in Uruguay in connection with the previously announced court approved creditors’ settlement agreement.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation ("MAR"). Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain. If you have any queries on this, then please contact Ryan Cohen, VP Corporate Development of the Company (responsible for arranging release of this announcement on behalf of the Company) on: +1 (778) 373-0100.
About Orosur Mining Inc.
Orosur Mining Inc. (TSX: OMI; AIM: OMI) is a precious metals developer and explorer focused on identifying and advancing gold projects in South America. The Company operates in Colombia and Uruguay.
IMC International Mining Corp. is a junior exploration and development company. It is focused on creating shareholder value through the advancement of its assets which include the Bullard Pass Property in Arizona. (http://internationalmining.ca/).
For further information, please contact:
Orosur Mining Inc
Ignacio Salazar, Chief Executive Officer
Ryan Cohen, VP Corporate Development
Tel: +1 (778) 373-0100
SP Angel Corporate Finance LLP – Nomad & Joint Broker
Jeff Keating / Stephen Wong
Tel: +44 (0)20 3 470 0470