Colombia Crest Gold Corp. (TSXV:CLB) announced that it has sold its Bolivian subsidiary and the San Simon project to Steinmar.
As quoted in the press release:
Steinmar has agreed to purchase the outstanding shares of Eaglecrest Exploration Bolivia S.A. for payments that total US$5 million.
Colombia Crest Gold Corp’sPresident and CEO, Hans Rasmussen, said:
This agreement represents a major milestone for Colombia Crest as it monetizes the gold resource in Bolivia and lets us turn 100% of our attention to discovery of a gold resource in Colombia.