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Article: Polar Star Acquires Additional 5% Equity Interest in Chepica Mine.
- Article from:
- Canadian Corporate News
- Article date:
- August 12, 2008
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Copyright informationCOPYRIGHT 2008 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TORONTO, ONTARIO, Aug 12, 2008 (Marketwire via COMTEX) -- Polar Star Mining Corporation (TSX VENTURE:POS)(PINK SHEETS:POSRF) ("Polar Star" or the "Company") announces that it has acquired an additional 5% equity interest in the Chepica Mine by paying 150 million Chilean Pesos (approximately US$293,000). In addition, Polar Star has amended the Chepica Acquisition Agreement to enable the acquisition of the remaining 15% equity interest for 600 million Chilean Pesos (approximately US$1.2 million) on or before June 20, 2009. Pending successful completion of its final due diligence review, Polar's acquisition cost for the remaining 90% equity interest is 2.85 billion Chilean Pesos ...
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