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Para Resources nixes Brazilian gold project buy

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Para Resources nixes Brazilian gold project buy

Para Resources Inc. said Dec. 30 that it terminated its planned buyout of the Cumaru-Gradaus gold project in Brazil.

The original agreement was signed in September 2014. In exchange for the cancellation, Para Resources will issue Sercor Ltd. 1,250,000 shares. The company is now free from all of its obligations under the original agreement.