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| Home : Eloro Resources Announces Execution of Definitive Purchase Agreement with KWG Resources; Acquisition of Louvicourt Township Gold Property Closed in Escrow |
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Dec 12
2011 |
Eloro Resources Announces Execution of Definitive Purchase Agreement with KWG Resources; Acquisition of Louvicourt Township Gold Property Closed in Escrow |
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TORONTO, ONTARIO--(Marketwire - Dec. 12, 2011) - Eloro Resources Ltd. (TSX VENTURE:ELO)(FRANKFURT:P2Q) ("Eloro" or the "Company") is pleased to announce the execution of a binding Share Purchase Agreement (the "Agreement") with KWG Resources Inc. (TSX VENTURE:KWG) ("KWG") whereby KWG has agreed to exchange all of the outstanding shares of its wholly-owned subsidiary, 6949541 Canada Inc. ("6949541"), for shares and warrants of Eloro. 6949541 holds eleven contiguous mineral claims in Louvicourt Township ("Louvicourt Property"), adjacent to Eloro's wholly-owned Simkar Gold Property near Val d'Or, Quebec. Eloro's acquisition of all of the outstanding shares of 6949541 from KWG (the "Acquisition") has closed in escrow, subject to the occurrence of certain conditions discussed below. |
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| Source:http://www.marketwire.com/mw/release.do?id=1597533&sourceType=3 |
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