Bayswater Uranium has signed an asset purchase agreement to sell its Central Mineral Belt project to Hong Kong firm Deep Sea Capital.

As per the terms of the deal, Bayswater will receive consideration of $125,000 for the sale which is expected to be completed on or before 31 July 2013.

Central Mineral Belt project is located in Labrador, Canada.

A finder’s fee of $12,500 is payable in cash to an arm’s length third party on this transaction.

Bayswater Uranium is a uranium exploration and development company. Its focus is the Reno Creek ISR uranium development project in Wyoming in which the company currently owns a 11.95% stake.

The company also owns the Collins Bay Extension uranium project in Canada’s Athabasca Basin, optioned to CanAlaska Uranium, that can earn a 70% interest.