Business Services Industry
Chartwell International signs letter of intent to sell gypsum holdings
Business Wire, Feb 28, 1997
DENVER--(BUSINESS WIRE)--Feb. 28, 1997--Chartwell International Inc. (OTC:CHAP) announced today that it has signed a letter of intent to sell its gypsum holdings to Prentice Capital Inc.
Prentice Capital Inc. has agreed to pay $4 million in cash and stock for the property. The company has also agreed to pay a royalty to Chartwell International Inc. upon the future sale or mining of the property.
Chartwell is a diversified holding company.
CONTACT: Chartwell International Inc., Denver
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Richard R. Perkins, 888/393-CHAP or 303/804-0100
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