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ASX / MEDIA RELEASE March 5, 2008
Longonjo/Ucua Transfer
CityView Corporation Limited (“CityView”) advises that the planned transfer of its working interest in the Longonjo and Ucua licence areas to Fortitude Minerals Limited (“Fortitude”) for 15 million shares of Fortitude has been completed.
CityView now owns 22,628,885 Fortitude shares (US$31.45m Aus$33.8m) out of a total of 56,550,685 shares (40%).
Subject to shareholder approval CityView has agreed to increase its holding in Fortitude to 36,150,520 shares (63.9%) through an exchange of 13,521,635 Fortitude shares on a one for five basis equivalent to US$0.278 for each CityView share (being approximately Aus30 cents per CityView share).