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Endomines publ AB Updates on Sale of Kalvinit Oy to Cove Resources Ltd


Wednesday, 15 May 2013 11:35am EDT 

Endomines publ AB announced that Endomines AB and Cove Resources Ltd have agreed to vary the Longstop Date under the Share Purchase Agreement dated July 5, 2012, as amended by the Deed of Variation dated April 12, 2013, between Endomines and Cove Resources relating to the sale and purchase of 100% of the issued share capital of Kalvinit Oy (Share Purchase Agreement). The Share Purchase Agreement is to be varied so the Longstop Date is to be extended on a monthly basis for a period of up to six months from the current Longstop Date of May 15, 2013. At Closing, Cove Resources agrees to pay Endomines a further amount of EUR 50,000 for each month in which the Longstop Date is extended. The maximum additional price according to the variation is EUR 300,000. Under the terms of the Share Purchase Agreement the Closing Date is to occur no later than 15 business days after the Longstop Date. 

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