Newspaper article from our research archive:
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Monroe Minerals Closes Sale of Diamond Interests
- Article from:
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Marketwire
- Article date:
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July 3, 2008
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Copyright informationCopyright 2008 Marketwire. Provided by ProQuest LLC. (Hide copyright information)
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CALGARY, ALBERTA--(Marketwire - July 3, 2008) - Monroe Minerals
Inc. (TSX VENTURE:MMX) ('Monroe') announced today the closing of the
previously announced sale of its African diamond interests to
Namakwa Diamonds Holdings (Pty) Ltd ('Namakwa'). Monroe has received
US$1,050,000 in cash and a 10% carried equity interest in
developments arising from the intellectual data base of Monroe
Mining (Pty) Limited ('Monroe SA'). Of the balance of the
consideration, US$300,000 has been paid into escrow with Monroe's
legal counsel in Johannesburg until South African ministerial
consent to the sale of Monroe SA is received, and approximately
US$50,000 will be paid upon the completion of delivery of minor ...
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