Sumtra announces completion of property sale
04 September 2014 - 2:52AM
PR Newswire (Canada)
TORONTO,
Sept. 3, 2014 /CNW/ - Sumtra
Diversified Inc. (NEX Board: YSU.H) ("Sumtra" or the "Company") is
pleased to announce that it and its 50% joint venture partner have
completed the previously announced sale of two parcels of vacant
land in the City of Guelph to the
Ministry of Transportation (Ontario). Sumtra's share of the purchase
price was $698,625 and it is
estimated that net proceeds before tax will be approximately
$581,000 after deducting costs and
expenses of the sale, including approximately $76,500 required to terminate and discharge a
development agreement with the City of
Guelph.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Sumtra Diversified Inc.
Copyright 2014 Canada NewsWire
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