Energem-proposed disposal of remaining 30% interest in Nigerian tank farm and proposed...

Attention Business Editors TSX/AIM: ENM VANCOUVER, Oct. 2 /CNW/ - Energem Resources Inc. (the "Company" or "Energem") is pleased to announce the proposed disposal of its remaining interest in the refined fuel product tank farm and distribution facility at Apapa Port, Lagos, Nigeria (the "Facility") and the proposed acquisition of a commercial aircraft to further develop and manage business opportunities in Africa. PROPOSED DISPOSAL OF THE NIGERIAN FACILITY Energem has agreed, subject to shareholder approval and satisfaction of the condition precedent set out below, to sell the remaining 30% interest in the joint venture in respect of the Facility owned by its wholly owned subsidiary, Energem Petroleum Corporation Limited ("EPC"), to one of its joint venture partners, Yinka Folawiyo and Sons Limited ("Yinka"), for a gross cash... [read full story]