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| Home : Noront Announces Agreement for the Sale of Its Interest in the Windfall Lake Project |
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Jun 28
2013 |
Noront Announces Agreement for the Sale of Its Interest in the Windfall Lake Project |
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TORONTO, ONTARIO--(Marketwired - June 28, 2013) - Noront Resources Ltd. ("Noront" or the "Company") (TSX VENTURE:NOT) today announces that it has entered into a binding letter agreement (the "Letter Agreement") with Eagle Hill Exploration Corp. ("Eagle Hill") to sell its 25% interest, all royalty interests, and all other associated rights in the Windfall Lake Project (the "Project"), on the terms and conditions contained in the Letter Agreement (the "Transaction"). In consideration for the sale of Noront's 25% interest in the Project, Eagle Hill will pay to Noront: (i) an aggregate cash payment of $5 million, and (ii) 25 million freely tradeable (subject only to such hold periods required under applicable Canadian securities laws) common shares of Eagle Hill to be issued to Noront on closing of the Transaction (the "Closing"). |
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| Source:http://www.marketwire.com/mw/release.do?id=1806956&sourceType=3 |
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