As per the terms of the deal, Bayswater will receive consideration of $125,000 for the sale which is expected to be completed on or before 31 July 2013.
Central Mineral Belt project is located in Labrador, Canada.
A finder’s fee of $12,500 is payable in cash to an arm’s length third party on this transaction.
Bayswater Uranium is a uranium exploration and development company. Its focus is the Reno Creek ISR uranium development project in Wyoming in which the company currently owns a 11.95% stake.
The company also owns the Collins Bay Extension uranium project in Canada’s Athabasca Basin, optioned to CanAlaska Uranium, that can earn a 70% interest.
