Oakmont Buys Stake In Panama Mining Site For $5M

Law360, New York (October 20, 2011, 5:30 PM EDT) -- Oakmont Capital Corp. has agreed to pay more than $5 million to buy an interest in a Panamanian manganese deposit from Global Min-Metal Holdings SA, a company whose founder has helped explore the 10,300-hectare site, the property investment firm announced Thursday.

Vancouver-based Oakmont said it would fund the deal, in which it will pay for $2 million worth of Global's current expenses and more than $3 million worth of Global's future expenses, with cash and stock.

Oakmont warned investors that the deal, and trading in its...
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