Oct 12 (Reuters) - Pelican Resources Ltd PEL.AX :
* UPDATES ON SALE OF SIBUYAN NICKEL PROPERTIES DEVELOPMENT CORPORATION
* INTENDS SEEKING APPROVAL OF SHAREHOLDERS FOR SALE OF ITS INTERESTS IN SIBUYAN NICKEL PROPERTIES DEVELOPMENT CORP AT UPCOMING AGM
* CO & DYNAMO ATLANTIC SIGN DEAL ON TERMS OF FORMAL SHARE SALE & ASSIGNMENT OF DEBT AGREEMENT OF SNPDC
* TOTAL CONSIDERATION FOR DEAL $3.6 MILLION