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BRIEF-Eloro Resources and Cott Oil and Gas announce $5 mln option agreement for a 25 pct interest in La Victoria Project, Peru
March 3, 2017 / 12:36 PM / 6 months ago

BRIEF-Eloro Resources and Cott Oil and Gas announce $5 mln option agreement for a 25 pct interest in La Victoria Project, Peru

March 3 (Reuters) - Eloro Resources Ltd

* Eloro Resources and Cott Oil and Gas announce $5 million option agreement for a 25% interest in La Victoria Project, Peru

* Eloro Resources - Under terms of agreement, Cott can earn an initial 10% interest in property by expending C$2 million by or before October 30, 2017

* Eloro Resources Ltd - Under terms of agreement, Cott can earn further 15% interest by expending an additional C$3 million by or before July 31, 2018

* At end of either stage 1 earn-in period or stage 2 earn-in period, a joint venture would be formed between Eloro and Cott Source text for Eikon: Further company coverage:

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