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BRIEF-Pele Mountain reports LOI with Enirgi Group
June 1, 2017 / 10:00 PM / 4 months ago

BRIEF-Pele Mountain reports LOI with Enirgi Group

June 1 (Reuters) - Pele Mountain Resources Inc:

* Pele Mountain announces an loi with Enirgi Group, management changes and the sale of Eco Ridge

* Pele Mountain Resources Inc - ‍Rob Scargill has been appointed as Pele’s interim president and CEO​

* Pele Mountain- ‍terms of LOI include that Enirgi will be issued 85-percent ownership of pele on a fully-diluted basis​

* Pele Mountain - ‍Pele’s board has concluded that due to continuing weak uranium and rare earth prices, Eco Ridge remains uneconomic​

* Pele Mountain - intention to proceed with consolidation of common shares on basis of 10 for 1 Source text for Eikon: Further company coverage:

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