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IMC interested in buying Orosur’s Uruguay assets

12th November 2019

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

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CSE-listed exploration and development junior International Mining Corp (IMC) has entered into a nonbinding letter of intent to buy the mining and exploration permits of TSX- and Aim-listed Orosur Mining in Uruguay for $1-million in cash.

IMC has 45 days to complete a due diligence, Orosur said in an announcement on Tuesday.

Orosur added that it planned to use the proceeds to pay liabilities in Uruguay in connection with a court-approved creditors’ settlement agreement.

IMC listed on the CSE in September and said, at the time, that its board was actively reviewing opportunities for project generation and continued financing to create shareholder value.

The junior is led by Brian Thurston as CEO, Eli Dunsenbury as CFO and independent directors Dave McMillan and Mika Aujla.

The company owns the Bullard Pass property, in west-central Arizona.

Edited by Creamer Media Reporter

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