Elevation Gold Mining Corporation reports its subsidiary, Eclipse Gold Mining Corporation, has completed the sale of its Hercules Property in the historic Como Mining District at the northern end of the Pine Nut Mountains in Lyon County. The sale was made through its subsidiary, Alcmene Mining Inc., to StrikePoint Gold Inc. for a total consideration of $250,000.
Alcmene Mining holds 100 percent interests in Hercules Gold USA, a Nevada-based company responsible for the Hercules Property. The property consists of 1,207 unpatented mining claims and four patented mining claims, as well as an additional 116 unpatented mining claims owned by Minquest Inc., which are subject to an option agreement among Great Basin Resources, Inc., Iconic Minerals, Ltd., Eclipse, and Hercules USA.
The sale remains subject to the final approval of the TSX Venture Exchange. The sale has been approved under the amended court order from the Supreme Court of British Columbia, in compliance with the Companies Creditors Arrangement Act, and consented to by KSV Restructuring Inc., the court-appointed monitor overseeing Elevation Gold Mining’s affairs.
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