An agreement has been concluded between Cogesco Mining Resources and Cogesco Partnership 1987 and Co., Ltd. whereby Cogesco has received $1.35 million in return for 1,578,974 common shares of the company.
The funds will cover Cogesco’s portion of this year’s expenditures on the Norlartic property, a joint- venture project with Aur Resources. The 1987 prog ram consists of underground exploration aimed at confirming and increasing reserves at depth on the Principale zone; it is hoped the program will bring the project to the feasibility study stage.
In other news, Cogesco shareholders will be asked at the Aug 4 annual and special meeting to approve a consolidation of the company’s shares on a one-for-five basis.
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