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| Home : Arena Minerals Receives Consideration of $2.3 Million (US$ 1.74 Million) From Joint Venture Partner |
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Jul 14
2016 |
Arena Minerals Receives Consideration of $2.3 Million (US$ 1.74 Million) From Joint Venture Partner |
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TORONTO, ONTARIO--(Marketwired - July 13, 2016) - -Arena Minerals Inc., (TSX VENTURE:AN) ("Arena" or the "Company") has received notice from B2Gold Corporation (TSX:BTO) ("B2Gold") that it will not fulfill its minimum exploration commitments to continue with the exploration of the Cerro Barco and Pampa Paciencia properties as per the option agreement dated February 23, 2015 (the "Agreement"). As per the Agreement, B2Gold shall pay $1.95 million (US$1.5 million) to Arena by issuing common shares of B2Gold to Arena, based on the five day volume weighted average trading price and make a cash payment to Arena of $312,000 (US$241,000), all payments to be made by July 26, 2016. |
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| Source:http://www.marketwired.com/mw/release.do?id=2142035&sourceType=3 |
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