Affinity Gold Corp. Enters Into Letter of Intent With Peruvian Company to Acquire Mining Concession Rights
February 20 2009 - 12:58PM
PR Newswire (US)
LIMA, Peru, Feb. 20 /PRNewswire-FirstCall/ -- Affinity Gold Corp.
(OTC Bulletin Board: AFYG) (the "Company") (formerly Syncfeed Inc.)
is pleased to announce that it has entered into a letter of intent
(the "Letter of Intent") with AMR Project Peru, S.A.C. ("AMR"), a
Peruvian company, with respect to the acquisition by the Company of
certain mining concession rights held by AMR. In accordance with
the Letter of Intent, the Company agrees to issue 12,000,000 shares
of common stock of the Company to AMR in exchange for all legal and
beneficial ownership of the mining concession title named "AMR
Project" covering 500 hectares and the physical mining concession
certificate as evidenced by Certificate No. 7996-2006-INACC-UADA
granted to AMR by the Republic of Peru, National Institute of
Concessions and Mining Cadastre on December 11, 2006, including all
improvements, structures and equipment on and used by AMR on such
mining concession rights, being transferred and registered in the
name of the Company. The Company and AMR intend to enter into a
more formal asset purchase agreement and other documents as
necessary that more fully delineate and formalize the terms of the
acquisition. Mr. Antonio Rotundo, who is the President, CEO, CFO
and a director of the Company is also a major shareholder of AMR
along with his father, Mario Rotundo, who is the other major
shareholder of AMR. On behalf of the Board of Directors, Affinity
Gold Corp. Antonio Rotundo President and Director FORWARD-LOOKING
STATEMENTS This news release may include "forward-looking
statements" regarding Affinity Gold Corp., and its subsidiaries,
business and project plans. Such forward-looking statements are
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and section 21E of the United States Securities and
Exchange Act of 1934, as amended, and are intended to be covered by
the safe harbor created by such sections. Where Affinity Gold Corp.
expresses or implies an expectation or belief as to future events
or results, such expectation or belief is believed to have a
reasonable basis. However, forward-looking statements are subject
to risks, uncertainties and other factors, which could cause actual
results to differ materially from future results expressed,
projected or implied by such forward-looking statements. Affinity
Gold Corp. does not undertake any obligation to update any
forward-looking statement, except as required under applicable law.
DATASOURCE: Affinity Gold Corp. CONTACT: Anastasis Consulting, LLC,
+1-603-264-5688, for Affinity Gold Corp.
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