PMEA Blog

Crew Gold Corporation (”Crew” or “the Company”) (TSX:CRU) (OSLO:CRU) announces that it has signed an agreement to sell its interest in Apex Mining Company Inc and all other related assets in the Philippines to a private company with headquarters in Malaysia. The agreement is subject to certain regulatory approvals and is expected to be completed within approximately 90 days. The agreement calls for a total cash payments of $1 million upon signing of the agreement, $5 million upon completion, and a final $1 million when Philippine regulatory approvals are obtained.

Interim CEO Bill LeClair commented “combined with the previously announced sale of Nalunaq and the pending completion of the sale of Nugget Pond, this allows Crew’s scaled down management team to concentrate all efforts on the LEFA project which is expected to complete its ramp up by approximately the end of Q4.”

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