Niko Resources Selling Non-Core Assets for $157 Mln

Niko Resources Ltd has announced that the company is in advanced negotiations with two separate third parties for the sales of certain non-core assets for combined sales proceeds of $157 million.

The Company is working towards signing of definitive sale and purchase agreements by April 30, 2013. Further details on these transactions will be provided to the market as these transactions progress. Execution of the sale and purchase agreements will be subject to completion of final due diligence and approval by the respective boards of directors of the parties. Closing of the transactions will be subject to host government and regulatory approvals, other conditions customary for transactions of this nature, and closing adjustments.

Negotiations regarding Farm-outs and Other Non-core Asset Dispositions

In addition to the above transactions, the Company is progressing with its negotiations with various third parties regarding farm-outs and other non-core asset dispositions, with offers on certain of these expected in the next few weeks-

With its head office located in Calgary, Canada, Niko has operations in India, Bangladesh, Indonesia, Madagascar, Pakistan and Trinidad.

 

Press Release, March 28, 2013

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