Luna Gold anuncia la venta de Cachoeira

Resumen: La empresa Luna Gold (LGC) anuncia que se logró terminar la venta del proyecto Cachoeira a Brasil Resources Inc. Esta venta había sido anunciada en comunicado de prensa del 11 de junio 2012.

De conformidad con la transacción, todas las acciones de Luna Gold, quien poseía indirectamente el 100% del proyecto Cachoeira, fueron vendidos por un importe valorado en aproximadamente $12 millones. Esta transacción consistió en efectivo y en acciones de Brasil Resources: $500.000 en efectivo y 1'428 000 acciones ordinarias fueron pagadas y emitidas, respectivamente, para Luna Gold.

Luna Gold Corp Announces Completion of the Sale of Cachoeira

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 25, 2012) - Luna Gold Corp. (TSX VENTURE:LGC)(OTCQX:LGCUF)(LMA:LGC) ("Luna" or the "Company") is pleased to announce the sale of the Company's Cachoeira Project to Brazil Resources Inc. ("BRI") achieved completion today. This sale was previously announced in a news release dated July 11, 2012.

Pursuant to the transaction, all of the shares of Luna Gold (International) Corp. ("Luna BVI"), which indirectly owns 100% of the Cachoeira Project, were sold to BRI for a consideration valued at approximately $12 million. This consideration consisted of both cash and shares of BRI. $500,000 in cash and 1,428,000 common shares of BRI ("BRI Shares") were paid and issued to Luna at closing. Additional consideration payable to Luna by BRI includes:

1. $300,000 cash and 1,214,000 BRI Shares within 12 months of closing the transaction;
2. i$300,000 cash and 1,214,000 BRI Shares within 30 days of receipt of approval of a mine development plan by the National Department of Mineral Production (Brazil) (DNPM) and the environmental preliminary licences for a gold mining operation relating to the Cachoeira Project;
3. i$2,500,000, payable in cash or BRI Shares, at BRI's sole discretion, upon commencing mine construction at the Cachoeira Project, consisting of completion of $500,000 of expenditures towards such construction; and
4. $3,000,000, payable in cash or BRI Shares, at BRI's sole discretion, one year after achieving commercial production at the Cachoeira Project.

Notwithstanding the foregoing milestones, all of the payments from BRI to Luna will become due and payable four years after the closing date of the transaction.

John Blake - President and CEO

Fuente: http://tmx.quotemedia.com/article.php?newsid=54544755&qm_symbol=LGC