BRC DiamondCore Ltd. has sold all of its shares in its wholly-owned South African subsidiary, Diamond Core Resources (Pty) Ltd (in liquidation), for nominal consideration plus, if the offer of compromise referred to below is approved by the court, for value of US$500,000. DCR was the holding company for the Company’s South African projects and was put into liquidation by court order on July 3, 2009. The terms of the sale contemplate that the purchaser enter into an offer of compromise with the creditors of DCR. A previously announced heads of agreement with KIG Mining Plc has been cancelled. The Company’s projects in the Democratic Republic of the Congo are unaffected by this sale transaction.
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