Jan 18 (Reuters) - Para Resources Inc PBR.V
* Para signs letter of intent to acquire 80% of Nicaraguan milling operation
* Para Resources Inc says has entered into a non-binding letter of intent to acquire an 80% interest in Nicaragua Milling Company Ltd
* Deal shall consist of 40 million common shares in capital of para at a deemed price of C$0.20 per share
* Para Resources says consideration payable to vendors for NML shares to consist of 40 million common shares in capital of co at deemed price of C$0.20per share
* Deal shall also consist of 4 million share purchase warrants of Para
* Para Resources Inc says each warrant will be exercisable to acquire one common share of Para at a price of C$0.30 for three years from date of issue
* Para Resources says following transaction, and subject to TSXV approval, Sergio Rios, one of the owners of NML, will be appointed a director of Para Source text for Eikon: Further company coverage: PBR.V