INDUSTRIAL MINERALS SALE – Dynatec divests assets in western Canada

CALGARY - DYNATEC of Richmond Hill, Ont., has agreed to sell its western Canadian mineral products assets to HEEMSKIRK CONSOLIDATED LTD. of Australia. Among the main assets being sold are a Lethbridge, Alta.-based barite, gypsum and zeolite processing facility; the Moberly silica sand mine and processing facility near Golden, B.C.; a zeolite mine near Cache Creek, B.C.; and executive and administrative office facilities and personnel in Calgary, Alberta.

The agreement does not include Dynatec's Ontario-based talc, barite and dolomite operations, and its 55% interest in the Sino-Can Micronized Products barite joint venture in China.

The purchase price for the transaction is $5.66 million, subject to customary working capital and other post-closing adjustments, payable in cash and shares in Heemskirk. The transaction, which is expected to close in approximately four weeks, is subject to certain closing conditions and to the receipt of all regulatory and other approvals.

Learn more about Heemskirk and its activities at www.Heemskirk.com.