Pershing Gold Corporation (OTCBB:PGLC) announced it has sold all its interest in uranium exploration properties to American Strategic Minerals Corporation (OTCBB:ASMC).
As quoted in the press release:
In January 2012 Pershing and Amicor entered into an Option Agreement under which Amicor acquired the option to purchase Pershing’s uranium properties. As consideration for the option, Pershing received a $1,000,000.00 non- interest-bearing promissory note, ($930,000.00 of which has been repaid), and 10 million shares of Amicor common stock, of which Pershing has sold 820,000. Amicor exercised its option to acquire the uranium properties and paid the $10.00 exercise price. With the completion of this transaction on June 11, 2012, Pershing has divested all of its uranium assets. Pershing continues to hold 9,180,000 shares in Amicor.