Brief: Eloro Resources and Cott Oil and Gas announce $5 mln option agreement for a 25 pct interest in La Victoria Project, Peru
03/03/2017 12:00
March 3 (Reuters) - Eloro Resources Ltd ELO.V
* Eloro Resources and Cott Oil and Gas announce $5 million
option agreement for a 25% interest in La Victoria Project, Peru
* Eloro Resources - Under terms of agreement, Cott can earn
an initial 10% interest in property by expending C$2 million by
or before October 30, 2017
* Eloro Resources Ltd - Under terms of agreement, Cott can
earn further 15% interest by expending an additional C$3 million
by or before July 31, 2018
* At end of either stage 1 earn-in period or stage 2 earn-in
period, a joint venture would be formed between Eloro and Cott
Source text for Eikon: ID:nCCNbSl7lV
Further company coverage: ELO.V
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