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Huakan International Agrees to Extend Greenwood Closing For $200K a Week

Huakan International Mining (HK.V) is lower this afternoon with the company again extending the deadline for Gold Crown LLC to complete its proposed acquisition of Huakan's Greenwood gold project, now giving Gold Crown until Sept. 30 to close on the deal.

In exchange for the extension, Huakan will receive an additional $200,000 each week on top of the $5 million purchase price announced in March for the idled Greenwood, B.C., gold mine and mill. Gold Crown also agreed to forfeit a total of $1.25 million in extension fees and deposits if the deal has closed by the end of September.

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

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