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Strategies & Market Trends : Dino's Bar & Grill

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From: Goose94	12/22/2012 2:26:24 PM
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Noront Resources (NOT-V) www.norontresources.com Tons of o/s over 200 million $5 million cash (as of Oct 31, 2012) Company presentation norontresources.com Noront to sell 25% interest in Windfall to Maudore Dec 5, 2012 - News Release Noront Resources Ltd. has reached an agreement in principle to sell its 25-per-cent interest in the Windfall Lake project in Quebec. The company has entered into a purchase-and-sale agreement with Maudore Minerals Ltd., pursuant to which Maudore has agreed to acquire Noront's 25-per-cent interest in the Windfall Lake project. The Windfall Lake project is a joint venture between Noront and Eagle Hill Exploration Corp. Eagle Hill has earned a 75-per-cent interest in the project and is the operator. Maudore has agreed to pay a sum of $10.0-million in cash plus three million warrants which entitle Noront to purchase common shares of Maudore at a price of $2.20 per common share in exchange for Noront's current 25-per-cent interest in the Windfall Lake project. Maudore will also be required to pay to Noront, subject to certain conditions, an additional amount in the event that Maudore acquires, directly or indirectly, Eagle Hill's 75-per-cent interest in the Windfall Lake property equal to the difference (if any) between one-third of the purchase price paid by Maudore for the 75-per-cent interest and $10.0-million. The additional payment will be satisfied by the issuance of Maudore common shares.

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