July 28, 2017 / 1:00 PM / a year ago

BRIEF-Corridor announces settlement with Quebec Government on Anticosti JV

July 28 (Reuters) - Corridor Resources Inc

* Corridor announces settlement with Quebec Government re: Anticosti joint venture

* Corridor Resources Inc - Government of Quebec has agreed to pay $19.5 million to Corridor ​

* Corridor Resources - settlement agreement with Government of Québec that facilitates end to participation in oil and gas exploration on Anticosti Island

* Corridor Resources - Government of Québec has also agreed to reimburse Corridor for any further amounts expended prior to its departure from Anticosti Island​

* Corridor Resources - Government of Québec also agreed to assume all abandonment and reclamation obligations of corridor in respect of three Anticosti Wells​

* Corridor Resources - been advised that Government of Québec intends to prohibit future exploration work relating to hydrocarbons, underground reservoirs Source text for Eikon: Further company coverage:

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