TORONTO, July 22, 2020 /CNW/ – Karora Resources Inc. (TSX: KRR) (“Karora” or the “Corporation”) is pleased to announce it has reached an agreement to sell its 28% interest in the Dumont Nickel Project (“Dumont”) to two private funds advised by Waterton Global Resource Management, Inc. (collectively, “Waterton”) for total consideration of up to $48 million, subject to the terms and conditions of the sale agreement. At closing Karora will receive $10.7 million, comprised of $7.4 million from Waterton for its interest and a $3.3 million refund of Karora’s share of the cash held within the Dumont Joint Venture.
