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Anfield Nickel announces sale of Mayaniquel S.A. to Cunico Resources N.V.


Thursday, 24 Apr 2014 02:36pm EDT 

Anfield Nickel Corp and Cunico Resources N.V:Enters into an agreement whereby Cunico will acquire Anfield's Guatemalan subsidiary, Mayaniquel S.A., and its Mayaniquel nickel laterite project.Under the agreement, Cunico will acquire Mayaniquel S.A. for a purchase price made in five annual $3 mln installments totalling $15 mln on closing of the transaction and a final payment of $28 mln on the fifth anniversary.Anfield to use proceeds from the transaction to repay outstanding indebtedness.Borden Ladner Gervais LLP are acting as legal counsel to Anfield's independent committee.Baker & McKenzie LLP are acting as legal counsel to Cunico. 

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