Orosur Mining Inc to sell its mining and exploration permits in Uruguay

  • Nov 12, 2019 GMT
  • Team Kalkine
  • Orosur Mining Inc. (OMI) has entered into a non-binding letter of intent with IMC International Mining Corp to sell its mining and exploration permits in Uruguay.
  • The transaction is for a total consideration of US$1 million cash and the proceeds will be used to pay obligations in Uruguay in connection with the court-approved creditors’ settlement agreement announced previously.
  • The exploration permits are in the San Gregorio area of Uruguay, and the transaction is subject to the satisfactory completion of due diligence by IMC within 45 days.

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