BRIEF-Newnorth provides update on Fort Mcmurray sale

Thu May 19, 2016 6:27pm EDT
 
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May 19 (Reuters) - Newnorth Projects Ltd

* Filed for claim for $5 million against purchaser in respect to conditional purchase and sale to dispose its interest in partnership

* Purchaser has indicated to company that it is not willing to complete fort Mcmurray transaction.

* Is of view that all conditions to completion in respect of fort Mcmurray transaction have been satisfied

* Intends to vigorously pursue all available rights and remedies against purchaser in respect of Fort Mcmurray transaction

* Says will provide an update in respect of status of Fort Mcmurray transaction when additional information is available

* Newnorth provides update on Fort Mcmurray sale

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