Osborne & Chappel Goldfields (TSE) has reached an agreement in principle to sell its main asset, a 25% interest in Los Lilenes S.A., to Odin Mining and Investment.
Odin currently owns the remaining 75% of Los Lilenes, a Panamanian company engaged in exploration and development of alluvial gold properties in Ecuador. The US$300,000 purchase price is payable in installments of US$50,000 every six months until Dec. 31, 1994.
The transaction is subject to regulatory and shareholder approval.
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