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Takara Resources Inc To Sell StrataGold Guyana For $600,000 To Alicanto Minerals Ltd-Canada Stockwatch News


Wednesday, 5 Dec 2012 01:49pm EST 

Canada Stockwatch News reported that Takara Resources Inc. has entered into an option agreement to sell its wholly owned subsidiary, StrataGold Guyana Inc., to Alicanto Minerals Ltd., an Australian exploration company listed on the Australian Stock Exchange. StrataGold holds 100% of Takara's Guyana-based mining interests. Pursuant to the terms of the option agreement, Alicanto will pay $100,000 to Takara in consideration for the option to enter into a share purchase agreement prior to December 14, 2012. The $100,000 is payable in two tranches: $25,000 on signing of the option agreement and $75,000 upon execution of the definitive share purchase agreement. If the sale of StrataGold is completed, the $100,000 initial fee shall be applied against the purchase price of $600,000. Alicanto has also agreed to pay the continuing monthly maintenance costs of StrataGold for December, 2012, January, 2013 and February, 2013, which are approximately $120,000 in the aggregate. It is therefore expected that Takara and Alicanto shall execute the share purchase agreement no later than December 14, 2012, unless extended by mutual agreement of both parties. 

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