Challenger Signs LOI for the Sale of its Barito Coal Project
02 4월 2014 - 8:30PM
Marketwired
Challenger Signs LOI for the Sale of its Barito Coal Project
CALGARY, ALBERTA--(Marketwired - Apr 2, 2014) - Challenger Deep
Resources Corp. ("Challenger" or the "Company") (TSX-VENTURE:CDE)
is pleased to announce that it has entered into a binding Letter of
Intent ("LOI") for the sale of its Barito coal project in Central
Kalimantan, Indonesia. Under the terms of the LOI the purchaser, a
private Australian company, will purchase all of the outstanding
shares of PT Bestindo Energy, a wholly-owned subsidiary of
Challenger which holds all of the Corporations rights to the Barito
project.
The purchase price under the LOI is $2 million (USD) payable as
to $50,000 on signing of the LOI, $100,000 on signing the formal
Conditional Share Purchase and Sale Agreement ("CSP&SA"),
$150,000 within 60 days of signing the CSP&SA, $500,000 on
preliminary forestry permit approval for the project and $1,200,000
on final approval of the forestry permit and commencement of
commercial production. Challenger will also be granted a royalty of
$2 (USD) per ton on all coal produced from the project lands and
from lands within a 2 km area of interest surrounding the project
lands in which the purchaser may acquire further coal rights.
Effective immediately, the purchaser has assumed responsibility
for all ongoing expenses of PT Bestindo Energy and the Barito
project.
As a consequence of its significant financial interest in the
project going forward, Challenger will provide such advice to the
purchaser in its development efforts as may be appropriate.
Challenger will continue its efforts to finance or to find a joint
venture partner for its Tabang coal project located in East
Kalimantan, Indonesia and will continue to review business
opportunities in both the resource and non-resource sectors.
About
Challenger
Challenger Deep Resources Corp. is an exploration company
focused on the Asian coal industry. Challenger's business plan is
to acquire, explore and to bring its viable coal projects into
production. Challenger has an experienced Indonesian exploration
and mining team with offices in Calgary, Singapore and Jakarta.
Neither the
TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy of accuracy of this news
release.
CAUTIONARY STATEMENT
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein.
READER ADVISORY
Statements in this press release may contain forward-looking
information including, statements regarding exploration and
production and marketing activities. Any statements that are
contained in this press release that are not statements of
historical fact may be deemed to be forward-looking statements. The
reader is cautioned that assumptions used in the preparation of any
forward-looking information may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from
those predicted, as a result of numerous known and unknown risks,
uncertainties, and other factors, many of which are beyond the
control of Challenger. Factors that could cause the actual results
to differ materially from those in forward-looking statements
include, granting of exploration and mining permits, surface access
and other licenses from Indonesian regulatory authorities,
exploration results, the continued availability of capital and
financing, and general economic, market or business conditions in
North America and in the Asia Pacific region. The reader is
cautioned not to place undue reliance on any forward-looking
information. There can be no assurance that the proposed
exploration and development programs in Indonesia or other project
acquisitions will be completed or, if completed, will be successful
or that coal production and sale will be achieved. Readers are
cautioned that there has been insufficient exploration to define a
mineral resource on either the ABBR license or the KEM license and
that it is uncertain when or if the Barito Project will be put into
production.
The forward-looking statements contained in this press release
are made as of the date of this press release, and Challenger does
not undertake any obligation to update publicly or to revise any of
the included forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
securities law.
Challenger Deep Resources Corp.Ranjeet
SundherPresident403-537-0067info@challengerdeep.cawww.challengerdeep.ca
Challenger Deep Resources Corp. (TSXV:CDE)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Challenger Deep Resources Corp. (TSXV:CDE)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024