SINGAPORE, SINGAPORE–(Marketwired – May 5, 2017) – Following the announcement on completion of the debt restructuring and the allotment and issue of new ordinary shares released by Blumont Group Ltd. (“Blumont” or the “Borrower“) on November 25, 2016, Blumont announces that today, its wholly-owned subsidiary, Powerlite Ventures Limited (“Powerlite“), has completed the transfer of an aggregate of 18,053,810 common shares (the “Transferred Shares“) of Azarga Uranium Corp. (“Azarga“) to Wintercrest Advisors LLC or its nominees (“Wintercrest“), pursuant to the terms of a settlement agreement dated April 7, 2016 between Blumont and Wintercrest (the “Settlement Agreement“). Pursuant to the Settlement Agreement, the Borrower disposed of the Transferred Shares, which altered the Borrower’s percentage interest in Azarga from approximately 24% (on a non-diluted basis) to 0%.
