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Colombia Crest Gold Corp Announces Sale Of San Simon, Bolivia Subsidiary To STEINMAR Ltda


Wednesday, 2 Jan 2013 07:40am EST 

Colombia Crest Gold Corp announced that it has entered into an agreement for the sale of its Bolivian subsidiary and the San Simon project to STEINMAR Ltda. (Steinmar), a Bolivian company. Steinmar has agreed to purchase the outstanding shares of Eaglecrest Exploration Bolivia S.A. for payments that total USD5 million. The agreement with Steinmar for the sale of Eaglecrest Exploration Bolivia S.A. calls for USD5 million in cash payments to Colombia Crest, as follows: At signing, USD100,000: By the 1st Anniversary, an additional USD100,000; By the 2nd Anniversary, an additional USD800,000; By the 3rd Anniversary, an additional USD800,000; By the 4th Anniversary, an additional USD800,000; By the 5th Anniversary, an additional USD900,000; By the 6th Anniversary, an additional USD300,000; By the 7th Anniversary, an additional USD300,000; By the 8th Anniversary, an additional USD300,000; By the 9th Anniversary, an additional USD300,000; By the 10th Anniversary, an additional USD300,000. 

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14 Jul 2014