European Lithium Ltd (ASX:EUR,FRA:PF8,VSE:ELI) has agreed to amend the terms of the sale agreement with Cervantes Gold Pty Ltd (ASX:CVS) for the sale of its Paynes Find Gold Project.
The details are now as follows:
- The end date for completion of the transaction has been amended to 28 November 2017; and
- This extension was provided in consideration for the payment of $25,000 from CVS to the company by 20th October 2017.
The total consideration payable remains unchanged and comprises $500,000 cash, of which $170,000 has been received to date, and $500,000 in share consideration (25 million shares at a deemed issue price of $0.02).
European Lithium remains focused on the Wolfsberg Lithium Project located in Austria.
