Nadir Energy and Mining Corp. Acquires Controlling Interest in Grand Pacaraima Gold Corp.
February 11 2009 - 2:43PM
Marketwired
Grand Pacaraima Gold Corporation (PINKSHEETS: GPGD) announced today
that a majority of all its issued and outstanding shares have been
acquired by Nadir Energy and Mining Corp. (PINKSHEETS: NADI)
(FRANKFURT: 3FJ). Members of the Castora family from Venezuela and
other investors have accepted this exchange. Chairman and President
Abdoumalik Abdoulladjanov of Nadir Energy and Mining Corp. and
Chairman of Grand Pacaraima Gold recently stated, "We are excited
to add Grand Pacaraima Gold's valuable assets to Nadir Energy and
Mining Corporation's growing asset base. We look forward to
developing these assets into a cash flow, which is a positive
addition to our portfolio. This transaction also increases and
diversifies the holdings of our shareholders."
Grand Pacaraima Gold Corp. (PINKSHEETS: GPGD) has interests in
four gold mines in Venezuela which are the Cerro Trompa, San
Miguel, Mosquito and Zapata. Metallurgica de Mineras S.A. has
previously sampled and assayed these four mines indicating they
contain recoverable gold reserves of 3.6 million ounces and
indicated reserves of 5 million ounces. Nadir Energy and Mining
Corp. (PINKSHEETS: NADI) also owns other natural resources which
are located in Canada including a substantial iron ore property
along with certain reserves in Russia.
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are forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, and involve risks and
uncertainties. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, future events or
performance and underlying assumptions. These statements are
subject to uncertainties and risks including, but not limited to,
economic conditions, the impact of competition and pricing,
government regulation, and other risks. All forward-looking
statements made by or on behalf of the Company are qualified. The
Company disclaims any obligation to update any forward-looking
statements to reflect events or circumstances after the date
hereof.
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