Amarium Receives $4.5 Million Payment from Anglo-Asia Resource Partners
September 09 2013 - 7:30AM
Business Wire
Amarium Technologies Inc. (Pink Sheets:AMMG), through its wholly
owned subsidiary Amarium Minerals Inc., reports that the Company
has received USD$4.5 million from Anglo-Asia Resource Partners,
representing the first installment of payments in their previously
announced Copper Stream Agreement. Anglo-Asia is a private Hong
Kong based partnership that is focused on procuring precious and
base metals for the Asian market. On June 5th, 2013, Amarium
entered into a Copper Stream Agreement with Anglo-Asia, for an
initial payment of US$8.75 million. A second installment of
USD$4.25 million is expected to be completed later this fall, as
the expansion project at the Jovita mill continues to progress.
Under the terms of the Copper Stream Agreement, Anglo-Asia is
entitled to 18% of the monthly production at Jovita, but is also
required to make ongoing payments of $0.75 per pound of copper.
Adam Carter, President & CEO of Amarium, commented, “Our
relationship with Anglo-Asia has been critical in accelerating the
development of Amarium. We now have the capital budget and
financial leverage to advance our production and exploration
endeavors. Our deal with Anglo-Asia essentially provides a triple
benefit to our shareholders. The required capital received by
Amarium, under the Anglo-Asia agreement, is also non-dilutive.
Additionally, the exposure to the new channels of Asian investment
and trade, as a result of this new relationship, could prove to be
compelling in the growth of Amarium.”
Amarium is focused on the acquisition and development of base
metals projects in Mexico that are currently in or near production
and advanced exploration properties that will add substantially to
the Company's asset foundation. Management is continuing to
actively pursue mineral interests that represent significant
growth, value and cash flow opportunities.
For additional information, please
visit: www.amariumminerals.com
This press release contains statements that are forward-looking
and which involve a number of risks and uncertainties. Such
forward-looking statements are within the meaning of that term in
Section 27A of the Securities Act of 1933, as amended and Section
21E of the Securities Exchange Act of 1934, as amended. The
forward-looking statements in question are based on Amarium
Technologies, Inc.'s current expectations and projections about
future events, based on information currently available. The
forward-looking statements found in this press release may also
include statements relating to Amarium Technologies, Inc.'s
anticipated financial performance, business prospects, new
developments, strategies, and similar matters. Amarium
Technologies, Inc. provides no assurance regarding the actual
outcome of the events contemplated by any forward-looking
statements included in this release. Amarium Technologies, Inc.
disclaims any obligation to update any of its forward-looking
statements, except as may be required by law.
Amarium Technologies Inc.Investor Relations / Adam CarterPh:
800-983-0814Fax: 800-320-4180info@amariumminerals.com
Calissio Resources (CE) (USOTC:CRGP)
Historical Stock Chart
From Sep 2024 to Oct 2024
Calissio Resources (CE) (USOTC:CRGP)
Historical Stock Chart
From Oct 2023 to Oct 2024