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BRIEF-Minquest updates on offer to acquire Wolverine Zinc Mine

Published 17/08/2015, 03:58 pm
© Reuters.  BRIEF-Minquest updates on offer to acquire Wolverine Zinc Mine
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Aug 17 (Reuters) - Minquest Ltd MNQ.AX :

* Update on offer to acquire Wolverine Zinc Mine

* Says court appointed monitor of Yukon zinc has recommended that asset purchase agreement for wolverine zinc mine be executed with Minquest

* Supreme court of British Columbia issued orders for restructuring proposal by Yukon zinc corporation, current owners of the wolverine zinc mine

* Supreme court of British Columbia issued orders for restructuring proposal to be presented to its creditors at meeting to be held on 2 September 2015

* Says monitor's report states that it is the intention of Yukon zinc to preserve the wolverine mine in a temporary closure state

* Says Yukon zinc is currently under court protection from its creditors

* Says Minquest has put forward a proposal to the monitor to acquire wolverine for CAD$15 million

* Yukon zinc meanwhile proposed plan of compromise and arrangement which was subject of hearing in supreme court of British Columbia on 14 August 2015

* Source text for Eikon ID:nASX6X6X71

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