Brigus Gold Completes Sale of Calais Notes
Brigus Gold Corp. (NYSE: BRD) (“Brigus” or the “Company”)
has received the final payment of USD $4.5 million from New West Capital
to complete the sale of the Calais Notes (“Notes”) as announced on May
7, 2012 for total proceeds of USD $6 million.
Brigus acquired the Notes as consideration when the Company sold a
non-core asset in 2010 and were originally valued and recorded at $3.4
million. When combining the $1.2 million that was repaid in 2011 from
Calais Resources Inc. with the proceeds from this sale, the Company
received a total of $7.2 million in cash for the Notes.
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