Brief: Balmoral Resources enters into agreement to receive minimum $3.6 mln through sale of non-core asset

Wallbridge Mining

25/05/2016 12:30

May 25 (Reuters) - Balmoral Resources Ltd  BAR.TO  
    * Balmoral enters into agreement to receive minimum $3.6 
million through sale of non-core asset 
    * To sell its interest in Discovery Zone property to 
Wallbridge Mining Company limited 
    * Will receive immediate payment of 2.4 shares of 
wallbridge, cash payments totaling either $3.4 or $3.5 million 
over next 60 -120 days 
    * To receive immediate payment of 2.4 million common shares 
of wallbridge, cash payments totaling either $3.4 or $3.5 
million dollars 
    * Balmoral will retain a 1% net smelter return royalty on 
all future production from Discovery Zone 
 
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