An Olympic divestment

Territory Resources will divest its shares in Olympia Resources.

Territory Resources has signed a conditional agreement with Olympia Resources for the divestment of its 73% interest in Olympia.

Under the proposed transaction, Territory will transfer its 73% interest in Olympia and assign outstanding inter-company loans previously provided by Territory to Olympia for a consideration of $1.75 million in cash to be received upon completion.

This is equivalent to the amount still owed to Territory by Olympia.

The transaction however, is still to be finalised by the company’s financiers when it is announced on the market.

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