TORONTO, Sept. 3, 2014 /CNW/ - Sumtra Diversified Inc. (NEX Board: YSU.H) ("Sumtra" or the "Company") is pleased to announce that it and its 50% joint venture partner have completed the previously announced sale of two parcels of vacant land in the City of Guelph to the Ministry of Transportation (Ontario). Sumtra's share of the purchase price was $698,625 and it is estimated that net proceeds before tax will be approximately $581,000 after deducting costs and expenses of the sale, including approximately $76,500 required to terminate and discharge a development agreement with the City of Guelph.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Sumtra Diversified Inc.
For further information: Robert G. Shoniker, President, Sumtra Diversified Inc., Tel: 416 863-6096, E-mail: [email protected]