Buy Gold Direct Commences Forward Gold Sales for Lake Victoria Mining Company, Inc
January 23 2014 - 8:30AM
Business Wire
(LVCA:OTCBB) Lake Victoria Mining Company, Inc., has commenced
forward gold sales through “Buy Gold Direct”, its web based
offering of gold bullion bars. The Company, using Forward Gold
Purchase Agreements intends to sell a portion of its planned
monthly gold production in advance as a means to finance the
capital costs of establishing their first medium size gold mine at
the Kunanga Village area of the Kinyambwiga Gold Project,
Tanzania.
The Company will begin immediately to enter Forward Gold
Purchase Agreements with Accredited Investors worldwide to sell, in
advance monthly portions of their planned gold production. The
Company benefits by using a small portion of its existing asset to
finance the project’s development, without further dilution of
their share structure. The Company will only sell a small portion
to satisfy its capital needs and then it will suspend any further
forward gold sales. The appeal for the gold buyer or gold investor
is their ability to purchase gold bullion directly from the
producer at a considerable discount to the current gold spot price
and gold future’s price in return for accepting a future delivery
date from the Company.
President and CEO, David Kalenuik states: “Companies today must
get creative and have tenacity to continue to fulfill their
objectives and shareholder expectations. We believe that our team
has been extremely creative in developing an alternative solution
to funding our current capital requirements. We are taking a lesson
from the big gold producers and institutions that have been forward
gold selling for years. By using online sales, we are making it
simple and easy for the accredited investor to play in the same
game and receive the benefits. We are also proud of announcing the
“Golden Rule”, our social commitment to the Kunanga Village, that
we have incorporated from “day one” into our Forward Gold
sales.”
Interested parties are invited to visit the Company’s online
offering at www.buygolddirect.biz where they will be able to shop,
based on delivery month and availability, for 1 oz, 10 oz, 100
gram, 500 gram and 1 kilo gold bars. The pricing is dynamic and
fluctuates with the current gold spot, gold future’s, delivery date
and what quantity of gold that the Company desires to forward sell.
The website allows them to choose the size and quantities of bars
and delivery date and then check out online. Upon checkout a buyer
will receive all the documentation to complete their order and to
properly verify that they are an accredited investor. Investors may
also call: 1-604-307-9951 to complete their Forward Gold
Purchase.
About the Company
Lake Victoria Mining Company, Inc. is working to create another
gold mine in the world famous Lake Victoria Greenstone Belt,
Tanzania, East Africa. Tanzania is Africa's fourth largest gold
producer, behind South Africa, Ghana and Mali, but also has
reserves of uranium, nickel and coal. Gold exports alone earned it
$1.076 billion in 2009, up from $932.4 million the previous year.
Lake Victoria holds nine prospective gold projects and five uranium
projects within its Tanzania property portfolio. Additional
information regarding the Company is available on the corporate
website at: www.lakevictoriaminingcompany.com or by contacting:
Lake Victoria Mining Company, Inc.David T. Kalenuik, CEO &
PresidentPhone: 303-586-1390Email: info@lvcamining.com
Disclaimer
This news release may contain forward-looking statements or
information within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and within the meaning of
Canadian provincial securities laws applicable to the Company.
Forward-looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and
similar expressions, or are those, which, by their nature, refer to
future events. Forward-looking statements or information are
subject to a variety of risks and uncertainties which could cause
actual events or results to differ from those reflected in the
forward-looking statements or information, including, without
limitation, risks and uncertainties relating to obtaining financing
to meet the Company's exploration programs and operating costs
during its exploratory stage, the interpretation of exploration
results and the estimation of mineral resources and reserves, the
geology, grade and continuity of mineral deposits, the possibility
that future exploration, development or mining results will not be
consistent with the Company's expectations, accidents, equipment
breakdowns, title matters, or other unanticipated difficulties with
or interruptions in production and operations, the potential for
delays in exploration or development activities or the completion
of feasibility studies, the inherent uncertainty of production and
cost estimates and the potential for unexpected costs and expenses,
commodity price fluctuations, currency fluctuations, regulatory
restrictions, including the inability to obtain mining permits and
environmental regulatory restrictions and liability, the
speculative nature of mineral exploration, dilution, competition,
loss of key employees, and other risks and uncertainties, including
those described under "Risk Factors" in the Company's Annual Report
on Form 10-K filed on June 28, 2013, which is on file with the
Securities and Exchange Commission, as well as the Company's
periodic filings available at www.sec.gov and with Canadian
Securities Administrators at www.sedar.com. Should one or more of
these risks and uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described in forward-looking statements. Accordingly,
readers are advised not to place undue reliance on forward-looking
statements or information. The Company does not undertake any
obligation to release publicly revisions to any "forward-looking
statement," to reflect events or circumstances after the date of
this news release, or to reflect the occurrence of unanticipated
events, except as is required under applicable securities laws.
Cautionary note to U.S. Investors — The United States Securities
and Exchange Commission permits U.S. mining companies, in their
filings with the SEC, to disclose only those mineral deposits that
a company can economically and legally extract or produce. We use
certain terms on this press release, such as "mineralized zones"
which the SEC guidelines strictly prohibit U.S. registered
companies from including in their filings with the SEC. U.S.
Investors are urged to consider closely the disclosures in our
annual report on Form 10-K. This news release does not constitute
an offer to sell or a solicitation of an offer to buy any of the
securities of the Company in the United States, nor shall there be
any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful. The securities offered have
not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or
any U.S. state securities laws and may not be offered or sold
within the United States or to, or for the account or benefit of,
U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or unless an exemption from such
registration is available.
Lake Victoria Mining Company, Inc.David T. Kalenuik, CEO &
President303-586-1390info@lvcamining.com
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