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URU Metals Ltd to acquire 100% interest in South African nickel projects

Monday, 25 Nov 2013 02:00am EST 

URU Metals Ltd (URU):Says it has entered into an agreement with its Joint Venture partner, Southern African Nickel Limited (SAN), to acquire 100% interest in SAN.Says as a result of this purchase, URU now owns 100% interest in the Southern African Nickel Joint Venture (SAN JV).Says SAN JV holds 74% interest in the Zebediela Nickel Project and 50% interest in the Burgersfort Nickel Project.Says URU will pay the shareholders of SAN US$1 and will pay the JVs current outstanding obligations of approximately US$185,000 to its operating consultant, Pangea Exploration, a non-arms length company to SAN. 

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