SUMTRA DIVERSIFIED INC. Reports Expropriation of Lands
August 19 2014 - 8:29AM
PR Newswire (Canada)
TORONTO, Aug. 19, 2014 /CNW/ - Sumtra Diversified Inc.
(NEX:SDV.H) announces that the Minister of Transportation for
Ontario (MTO) has commenced the
expropriation process of the lands in the Guelph area that currently are subject to a
sales agreement which has been agreed to but which transaction has
not closed at this date. The Company and a joint venture partner
have been notified by the MTO on August 1,
2014, and the Company understands that the notices were
issued to expedite the sales process.
The MTO has given written assurances, within the expropriation
notice, that the property owners with whom the ministry has entered
into property purchase agreements will continue to be processed in
accordance with their terms and conditions and based on the agreed
compensation.
SOURCE Sumtra Diversified Inc.
Copyright 2014 Canada NewsWire
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