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Mountain Lake Resources Terminates Arrangement With New Island Resources
Wednesday, September 1, 3:14 PM ET, by Market News Video Staff
Mountain Lake Resources (MOA.CA) reports that it has terminated the corporate arrangement with New Island ...

Mountain Lake Resources Terminates Arrangement With New Island Resources

By Market News Video Staff, Wednesday, September 1, 3:14 PM ET

Mountain Lake Resources (CVE:MOA.CA) reports that it has terminated the corporate arrangement with New Island Resources (NIS.CA), as a result of NIS’ acceptance of an alternate arrangement offer by Anaconda Mining Inc.

In result, New Island Resources is required pay to Mountain Lake a break-up fee equal to the greater of: 5.0% of the value of the Anaconda Mining Arrangement Offer, and $300,000.

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