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Sonde Resources Corp. Announces Sale of Liberty Natural Gas LLC and Update on Sale of Trinidad Assets
Sonde Resources Corp. (“Sonde”) (TSX: SOQ) (NYSE Amex LLC: SOQ) announced today that it has entered into a letter of intent providing for the sale of Liberty Natural Gas LLC (the “Company”) which owns a 100% working interest in the Liberty Natural Gas LNG project. Under the proposed sale, Sonde will receive cash consideration of U.S.$7,320,000 upon closing, plus deferred cash consideration of $17,500,000 payable upon any subsequent change of control of the Company, or following the Company’s first successful gas delivery. The proposed sale is subject to the execution of definitive documentation and government approvals which are expected within the next 60 days.