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BRIEF-Canasil Signs LOI To buy Canasil's Interest In Sandra-Escobar Project

Published 2018-10-24, 09:13 a/m
© Reuters.  BRIEF-Canasil Signs LOI To buy Canasil's Interest In Sandra-Escobar Project
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Oct 24 (Reuters) - Canasil Resources Inc CLZ.V :

* CANASIL SIGNS LETTER OF INTENT PROVIDING FOR PAN AMERICAN TO ACQUIRE CANASIL'S INTEREST IN THE SANDRA-ESCOBAR PROJECT FOR CDN $2 MILLION AND 2% NSR

* CANASIL RESOURCES INC - PARTIES ANTICIPATE COMPLETING DEFINITIVE AGREEMENT BY END OF NOVEMBER 2018

* CANASIL RESOURCES - AGREEMENT TO SUPERSEDE ALL PRIOR AGREEMENTS & ARRANGEMENTS BETWEEN CANASIL AND PAN AMERICAN WITH RESPECT TO SANDRA-ESCOBAR PROJECT

* CANASIL RESOURCES - PAN AMERICAN WILL HAVE RIGHT TO REDUCE NSR ROYALTY TO 1% AT ANY TIME BY PAYING CO CDN $4 MILLION

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