Newfields agreement

The terms of an agreement between Newfields Minerals and Breakwater Resources have been settled, the former company says. The deal will see Newfields acquire Breakwater’s control block of 2.4 million common shar es of Goldbelt Mines for a price of $1.8 million.

Newfields will also be granted an option to purchase 250,000 Breakwater common shares for $6 per share, exercisable on or before October, 1987. The deal remains subject to regulatory approval.