U.S. Pawn Inc. is negotiating a nonbinding letter of intent with Union Pawn Broker Group of Cos., owner of 16 pawnshops in the Los Angeles metropolitan area, to buy all the issued and outstanding capital stock or ownership interests for $9 million.

In a press release Thursday, U.S. Pawn said it would pay $3 million of cash and $6 million of common stock at a per share price to be determined.

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