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Significant reduction in Dunlevy acquisition costs

Published by
World Coal,

Jameson Resources has reviewed its portfolio of coal properties in Canada and concluded that the cost of retaining the Dunlevy project – in terms of remaining shares to be issued as compensation to original vendors - cannot be justified.

An additional consideration of 6 million shares was to be issued in accordance with the terms of the 2011 Dunlevy acquisition agreement. Jameson has announced that the three Dunlevy vendors have agreed to accept a significant reduction in the remaining compensation.

In June, 300 000 shares will be issued, followed by a final 300 000 shares in June of 2016. A total of 600 00 shares.

The original Dunlevy vendors agreeing to the reduction has allowed Jameson to retain Dunlevy in addition to other key holdings in northeast British Columbia: the Graham River, Peace Reach, and Carbon East projects.

Adapted from press release by Joseph Green

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