SXOOF - Kings of the North Subsidiary Sold to UK's BWA Group PLC.
(via TheNewswire)
Montreal - TheNewswire - September 30, 2019, St-Georges Eco-Mining Corp. (CNSX:SX.CN) (OTC:SXOOF) (FSE:85G1) is pleased to inform its shareholders that the Company has completed the sale of its subsidiary Kings Of The North Corp to BWA Group Plc of London, United Kingdom (NEX:BWAP). The total transaction is evaluated at approximately CAD 7.5M. St-Georges holds 50.18% of Kings of the North.
BWA's shareholders voted to approve the acquisition of KOTN earlier today with over 99.1% of vote cast in favour. Management of St-Georges, Kings of the North, and BWA Group spent the remainder of the days finalizing the regulatory documentation.
Vilhjalmur Thor Vilhjalmsson, President and CEO of St-Georges, commented, "(...) This is another important milestone achieved, and our management looks forward to working with BWA Group to unlock the potential value of these projects. St-Georges' restructuring is starting to take shape and we look forward to the next steps on the path of this journey (...)."
ON BEHALF OF THE BOARD OF DIRECTORS
"Vilhjalmur T. Vilhjalmsson"
VILHJALMUR THOR VILHJALMSSON
President & CEO
About St-Georges
St-Georges is developing new technologies to solve some of the most common environmental problems in the mining industry. The Company controls directly or indirectly, through rights of first refusal, all of the active mineral tenures in Iceland. It also explores for nickel on the Julie Nickel Project & for industrial minerals on Quebec's North Shore and for lithium and rare metals in Northern Quebec and in the Abitibi region. Headquartered in Montreal, St-Georges' stock is listed on the CSE under the symbol SX, on the US OTC under the Symbol SXOOF and on the Frankfurt Stock Exchange under the symbol 85G1.
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
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