Cornerstone Capital Resources (
TSX: V.CGP,
Stock Forum) Tuesday announced that it has offered to sell its 50% participating interest in the Little Deer Joint Venture copper property in Newfoundland to its joint venture partner in the project, Thundermin Resources Inc., this according to a company
news release.
The purchase price is $550,000, consisting of $200,000 in cash on closing and $350,000 in common shares of Thundermin to be issued on closing.
Cornerstone added that should Thundermin fail to exercise its right to purchase Cornerstone's 50% interest by September 15, 2013, then Cornerstone may sell that interest to a third party for the same financial consideration and the purchaser will be bound by the terms and conditions of the current Thundermin - Cornerstone Joint Venture Agreement.