SUMTRA DIVERSIFIED INC. Reports Expropriation of Lands
TORONTO, Aug. 19, 2014 /CNW/ - Sumtra Diversified Inc. (NEX:SDV.H) announces that the Minister of Transportation for Ontario (MTO) has commenced the expropriation process of the lands in the Guelph area that currently are subject to a sales agreement which has been agreed to but which transaction has not closed at this date. The Company and a joint venture partner have been notified by the MTO on August 1, 2014, and the Company understands that the notices were issued to expedite the sales process.
The MTO has given written assurances, within the expropriation notice, that the property owners with whom the ministry has entered into property purchase agreements will continue to be processed in accordance with their terms and conditions and based on the agreed compensation.
SOURCE Sumtra Diversified Inc.For further information: Mr. Phil Hampson at firstname.lastname@example.org.