[miningmx.com] — FIRST Uranium said on Monday the sale of its Ezulwini
mine to Gold One International is on track, and is expected to be implemented on
Wednesday.
The companies agreed to the $70m transaction in February when First Uranium had
embarked on a fire sale of its assets to cover debt.
First Uranium will keep $5m of the purchase amount in an escrow account for six
months in case any claims stemming from the transaction arise against the company.
“At the end of the escrow period, the deferred payment, less any claims made and
payable in accordance with the Gold One agreement, if any, shall be paid to the
Corporation,’ read a company statement.
