Northcliff Holdings Canada Ltd: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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Geodex Minerals Ltd. Closes Sale Of Sisson Project Interest To Northcliff Resources Ltd.
Geodex Minerals Ltd announced that the sale of its 30% interest in the Sisson Tungsten-Molybdenum Project in New Brunswick, Canada has been completed. The consideration received is comprised of 16,003,700 common shares of Northcliff Resources Ltd. (Northcliff), $1 million in cash and the return to Geodex for cancellation of 3,333,333 Geodex common shares that Northcliff purchased in 2010. The Northcliff common shares received by Geodex will be distributed to its common shareholders on the basis of 0.145 Northcliff shares for each Geodex share owned. There will be a four month hold period on the Northcliff shares, as per TSX securities regulations, which will expire October 22, 2012. The close of trading on June 28, 2012 has been established as the record date for Geodex shareholders to receive Northcliff shares. The distribution date for the shares will be July 4, 2012.
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