Markets

Ecometals Announces Sale of Non-Core Iron Exploration Assets in Brazil; Shares Down 20%

Ecometals Limited (EC.V) announced that its wholly owned Bermudan subsidiary, Noble Mining Ltd. has entered into an agreement with a group of investors for the sale of Noble's entire holding of shares in its wholly owned Bermudan subsidiary Ironman Ltd.

Ironman is the 99% shareholder of Ecometals Ferro do Amapa Ltda, a Brazilian company which holds iron exploration rights in Amapa, Brazil.

The purchase price includes the assumption of $130,000 in debt at Ironman and EFAL, and two cash payments of $200,000.

EC shares were down half-a-cent at $0.02.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos