United Resource Holdings Group, Inc. Announces a Funding for Construction, Acquisition, & Ongoing Operations for Dun Glen & U...
July 22 2013 - 6:26PM
Business Wire
United Resource Holdings Group, Inc. (“URHG”) announced today
that it received an investor funding for the financing of the
acquisition of equipment and materials and the final completion of
the construction of the Dun Glen Mine placer processing plant.
This funding took place with a private stock purchase agreement
in the amount of $860,000 and URHG’s common stock with a one-year
restricted legend was issued, resulting in 8,600,000 shares of
treasury stock issued.
The Letter Agreement, dated March 12, 2013, between URHG’s
subsidiary United Minerals Investment Corp. and Northern Gold
Producers, LLC, a Nevada-based company headquartered in Las Vegas,
has yet to be funded.
“With the $860,000US funding completed, URHG believes that the
completion of construction of the placer processing plant will
generate revenue within sixty days of commencing mining and
processing operations at the Dun Glen,” stated Mark Kersey,
President of URHG. “Furthermore, the completion of URHG’s mining
subsidiary Dun Glen Mining Corp. will produce concentrated precious
metal bearing materials to be shipped to United Milling &
Refining Corp. (''UMRC''), thus providing a source of material
downstream from the Dun Glen into the UMRC, which is consistent
with URHG’s strategic plan as a vertically integrated, mid-size
precious metals resource company in the Western United States.”
URHG continues to work forward with the implementation of
operations at the Dun Glen Placer Mine in accordance with its Water
Pollution Control Permit. Similarly, United Milling is continuing
its efforts to increase profitability and capacity through the
implementation of its chemical leaching circuit in accordance with
its recently-issued Major Modification of its Water Pollution
Control Permit.
About United Resource Holdings Group,
Inc.:
United Resource Holdings Group, Inc. is a U.S.-based natural
resource exploration and development company, focused on the
acquisition of mining equipment, mineral-bearing materials, and the
development of gold and other precious commodity projects that
demonstrate a reasonable probability for near-term production and
revenue. In addition, the company holds a controlling interest in a
beneficiation process plant that recovers precious metals from
mineral ores and ore concentrates on behalf of its captive mining
properties and on behalf of third-party mining companies. The
company is quoted on the OTCPK under the symbol “URHG.”
Notice Regarding Forward-Looking Statements:
This news release may contain "forward-looking statements," as
that term is defined in Section 27A of the United States Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release that are not purely historical are
forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future,
including but not limited to, the accomplishment of any of our
plans listed for 2012 such as any acquisitions, geophysics,
production, construction projects, drilling programs or results
from such programs, and the timelines within which such items may
be accomplished, as referred to in this news release.
Actual results could differ from those projected in any
forward-looking statements due to numerous factors. Such factors
include, among others, the inherent uncertainties associated with
mineral exploration, development, and production. We are not in
control of metals prices and these could vary to make development
uneconomic. These forward-looking statements are made as of the
date of this news release, and we assume no obligation to update
the forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements. Although we believe that the beliefs, plans,
expectations and intentions contained in this press release are
reasonable, there can be no assurance that such beliefs, plans,
expectations or intentions will prove to be accurate. Investors
should consult all of the information set forth herein and that
which is made publicly available by us from time to time.
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