Cotton & Western Mining, Inc. announces effective May 23, 2013, that the Board and the majority shareholders of Cotton & Western Mining, Inc. have approved a Plan of Reorganization (the "Plan"
ENSENADA, Mexico, May 28, 2013 /PRNewswire via COMTEX/ -- The primary considerations behind the Plan were/are as follows:
The sole revenue generating asset of CWRN (Pinksheets: CWRN) consists of a wholly owned foreign (Mexican) operating Subsidiary, Panamerican Minerals Ventures S.A. de C.V.(PMV), which was held in trust for CWRN and its shareholders by Robert L. Cotton and Sharon Vasquez . Due to a severe lack of Operating Capital, PMV was forced to cease mining operations in October of 2012, and had amassed unpaid debts in excess of $2.0 Million USD. Furthermore, PMV is a Defendant in various legal proceedings in Mexico, the loss of any of which would force PMV to declare bankruptcy. In all, PMV required on the order of $5.0 Million USD in financing in order to allow it to resume operations. As CWRN was/ is unable to provide this financing, and in order to preserve any value for CWRN`s Shareholders, the Board believed it had to act immediately.
After careful consideration of all the options open to it, the Board of CWRN has adopted a Plan of Reorganization under which it spins off, pro rata to shareholders, a newly formed subsidiary, Kiliwa Mining Group, US, Inc. (KMG) which will hold the stock of the Mexican subsidiary mining Company Panamerican Minerals S.A. de C.V. This will be accomplished via a dividend consisting of the shares of the wholly owned subsidiary KMG, pro rata, issued to all of the shareholders of CWRN, as of an effective date within 60 days hereof, on a 1 KMG share for each 1,000 CWRN shares basis, as part of the Plan of Reorganization on a record date to be determined in accordance with Notice requirements of CUSIP, DTC, and FINRA. Said KMG shares shall be held, in trust, by the Escrow Agent (transfer agent) pending effectiveness of a registration statement under the Securities Act of 1933.
The Board`s actions have already resulted in sufficient financial relief having been extended to allow PMV to avoid bankruptcy and the loss of its equipment, while retiring a significant portion of its outstanding payables. Furthermore, on May 19, 2013, PMV successfully shipped 68,069 Tons of Iron Ore from Ensenada aboard a Panamax Bulker (a first for Baja California minerals), of which 45,000 Tons were that material previously sold but quarantined by the Customs authorities and only recently released, plus 23,000 Tons of other inventory. The Board believes that their actions will allow sufficient capitalization to allow sustainable operations under KMG`s new management team.
Please note that neither Robert Cotton nor Sharon Vazquez is associated with the project any longer, nor do either of them either own or control any shares of any of the aforementioned entities.
The Bylaws of the Corporation have also been amended to add the following provisions: a) Pursuant to NRS 78.378, the Corporation hereby declares that the application of the "Acquisition of a Controlling Interest" provisions of Nevada Revised Statutes 78.378 to 78.3793, inclusive, do not apply to the corporation or to the acquisition of controlling interest in the corporation; and b) Further, pursuant to NRS 78.434(3), the Corporation hereby elects not to be governed by the "Interested Stockholders" provisions of Nevada Revised Statutes 78.411 to 78.444, inclusive.
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. The Company is a development stage firm that continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
For more information contact:
Kiliwa Mining Groupkiliwamininggroup@gmail.com
SOURCE Cotton & Western Mining, Inc.
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April 2012 [formatting and emphasis added]
Cotton & Western Mining, Inc. (PINKSHEETS: CWRN)
In 2011, Panamerican Minerals Ventures, S.A. de C.V. Mexico, the operators of the "Guadalupe Iron Mineral Concession," drilled three deep conformation holes 300 meters apart in the center line of the 1,500 meter long Coloso Iron Mineral Vein, (one of four major iron mineral veins located on the concession); the purpose of those drill-holes was to explore the depth of the Coloso Vein, since the original drill program of 68 holes was shallow at 20-meters depth.
Drill-hole 69 at 44-meters revealed continuous iron minerals mixed Magnetite and Hematite down to an elevation point of 81-meters above sea level, where the drilling was suspended without punching through the iron minerals as the iron content became lower and the mineral became solid magnetite.
Drill-hole 70 at 84-meters depth on the lower elevation of the concession revealed the same mineral structure as drill-hole 69, hitting iron mineral at 4-meters down and continuous to 84-meters where the drilling was suspended at 2-meters above sea level;
the third Drill-hole number 71 at 54-meters depth revealed continuous magnetite as well, the drilling was suspended pending simulated concentration testing of the lower grade materials to better understand the percentage of Fe304 (Magnetite Iron Oxide) uplift that could be anticipated if the materials were processed through a series of beneficiations.
Results from those analytical studies indicated that the iron minerals can be processed to a Grade-A iron mineral status . Management has been discussing the feasibility of building a concentration plant on site with the corporation of Bao Steel Group of China, provided that there is enough magnetite mineral reserve to justify the investment; therefore, the company has begun a series of new and deeper drilled-holes on a wide-area bases to establish parameters for an accurate calculation of available mineral reserves.
The company is continuously mining the near-surface iron minerals which require dry magnetic separation to achieve the clients specifications.
Other noteworthy news: the Company has contracted PowerScreen of California to build a heavy-duty 8ft x 30ft x 0.05mm cylindrical Trommel screening plant capable of screening out the small iron chips accumulated since the project went into production in November 2010. This equipment should be on-site and ready to begin processing a shipload of sinter fines within the next couple weeks. The balance of iron minerals less than 0.05mm in size shall be sold into the organic mineral fertilizer industry.
CWRN Current Share Structure: The Company has stated that it is not currently providing any Market Awareness nor is it involved with the market in any way. The share price of the Company's stock is solely dictated by the market further to that the share structure has not changed since year 2010, nor does the company intend to participate in any trade programs designed to offer company shares.
Authorized Shares: 6,000,000,000
Outstanding Shares: 4,361,635,980
Restricted Shares: 2,056,610,879
Free Trading Shares: 2,305,025,101
Notes: The Baja Pacific No. 14 - "Mina Guadalupe" is operated by Panamerican Minerals Ventures, S.A. de C.V., Ensenada, Baja California, Mexico.
Related News: China Seaborne Trade, Spot Price Iron Ore may be viewed at the following link:
Metal Bulletin Iron Ore Index Link
http://www.mbironoreindex.com/
About Cotton & Western Mining, Inc.
Cotton & Western Mining, Inc. (PINKSHEETS: CWRN) a Nevada Corporation that is engaged in metal mineral exploration, development and operations for "Iron Mineral Mining." For more information, please visit the company's website at www.cottonwestern.com.
Safe Harbor: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, technology efficacy and all other forward-looking statements be subject to the Safe Harbors created thereby. The Company is a development stage firm that continues to be dependent upon outside capital to sustain its existence. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.
Investor Relations Director
Emily Cotton
emilycotton@cottonwestern.com
+1 713 482 7593
Cotton and Western Mining, Inc. (OTC
K / trading symbol CWRN) works closely with a group of international agents and affiliates that operates iron mineral mines, manages, markets, and executes contract sales agreements for the iron minerals. Insiders and majority share holders of Cotton & Western Mining, Inc. are Robert L. Cotton Jr. (Bob) President & C.E.O. and the majority shareholder of the company's control shares. Insider Minority control shares are owned by Robert L. Cotton III (Trey) Vice President and Treasurer and by Sharon Vazquez, Vice President and Secretary. These shareholders's currently comprise the sole list of corporate officers and board of directors. The balance of control shares are held by Emily Cotton and Jennifer Cotton.
CWRN Drilling Video
Sept 2011
http://www.otcmarkets.com/stock/CWRN/company-infoCWRN's 2nd Export Permit issued for 2012>
Cotton & Western Mining, Inc. CWRN , Panamerican Minerals Ventures, S.A. de C.V. Mexico, the operators of the Guadalupe Iron Mineral Concession, drilled three deep conformation holes 300 meters apart in the center line of the 1,500 meter long Coloso Iron Mineral Vein, (one of four major iron mineral veins located on the concession); the purpose of those drill-holes was to explore the depth of the Coloso Vein, since the original drill program of 68 holes was shallow at 20-meters depth.
Drill-hole 69 at 44-meters revealed continuous iron minerals mixed Magnetite and Hematite down to an elevation point of 81-meters above sea level</strong>, where the drilling was suspended without punching through the iron minerals as the iron content became lower and the mineral became solid magnetite.
Drill-hole 70 at 84-meters depth on the lower elevation of the concession revealed the same mineral structure as drill-hole 69, hitting iron mineral at 4-meters down and continuous to 84-meters where the drilling was suspended at 2-meters above sea level; the third
Drill-hole number 71 at 54-meters depth revealed continuous magnetite as well, the drilling was suspended pending simulated concentration testing of the lower grade materials to better understand the percentage of Fe304 Magnetite Iron Oxide)
uplift that could be anticipated if the materials were processed through a series of beneficiations. Results from those analytical studies indicated that the iron minerals can be processed to a Grade-A iron mineral status. Management has been discussing the feasibility of building a concentration plant on site with the corporation of Bao Steel Group of China, provided that there is enough magnetite mineral reserve to justify the investment; therefore, the company has begun a series of new and deeper drilled-holes on a wide-area bases to establish parameters for an accurate calculation of available mineral reserves. The company is continuously mining the near-surface iron minerals which require dry magnetic separation to achieve the clients specifications. Other noteworthy news.
The Company has contracted PowerScreen of California to build a heavy-duty 8ft x 30ft x 0.05mm cylindrical Trommel screening plant capable of screening out the small iron chips accumulated since the project went into production in November 2010. This equipment should be on-site and ready to begin processing a shipload of sinter fines within the next couple weeks. The balance of iron minerals less than 0.05mm in size shall be sold into the organic mineral fertilizer industry .
CWRN Current Share Structure: The Company has stated that it is not currently providing any Market Awareness nor is it involved with the market in any way. The share price of the Company's stock is solely dictated by the market further to that the share structure has not changed since year 2010, nor does the company intend to participate in any trade programs designed to offer company shares Current O/S: 4,361,635,980 Bil. 2,056,610,879 Bil. Free Trading Float: 2,305,025,101
Nov 17 2011 "http://www.prnewswire.com/news-releases/cwrn-iron-ore-market-up-3rd-shipment-contract-to-be-executed-134030068.html" target="
Iron Ore Market Up 3rd Shipment Contract To Be Executed CWRN
The recent down trend in Spot Pricing for the China Sea Borne Trade for Iron Ore caused some companies to hold off on shipping, (including CWRN) this lead to a reduction in immediate raw material stocks for some steel makers. Over the last 12 consecutive trading days, the market has rebounded and some Iron Ore Sellers are now executing sales contracts.</strong> The Company has been trucking materials to the Pacific Ocean Port of Ensenada, Baja California, Mexico and has stepped up trucking by adding more trucks. The Company sells Raw Crude Iron Ore based on the Platt's Steel Index at landing on a 6 day average price, 3 days prior and 3 days after landing with a negotiated discount off Spot Pricing. It is anticipated that the landing price will be somewhat higher than the contract signing day Spot Market Price.
Shipping Update: Bulk vessel shipping Cost is expected to be $9.00 cheaper per wet metric ton than the August Shipment Cost, the Company is now in the market for the 3rd shipment dry bulk carrier in the HandyMax size range, 40 to 45 thousand metric tons.
CWRN Current Share Structure</strong>: The Company has stated that it is not currently providing any Market Awareness nor is it involved with the market in any way. The share price is solely dictated by the market further to that the share structure has not changed since year 2010, nor does the company intend to participate in any trade programs designed to offer company shares
Sept 29 2011 www.prnewswire.com/news-releases/cwrn-remedial-drilling-underway-at-mina-guadalupe-130771998.html" target=
Remedial Drilling Underway at Mina Guadalupe
CWRN Management stated today that the original drilling program consisted of 68 shallow drill holes into the Guadalupe iron ore bodies; 66 of the 68 drilled holes contained iron ore lenses varying in thickness from 2 to 14 meters thick. The deepest drilled hole was 20 meters in depth. The last shipment of iron ore and the current stockpiles of finished products have all come from a small section of the 1,500 meters long Coloso Vein (one of four long iron ore veins on the mineral concession) and 26 meters of overburden and iron ore have been extracted out of the section. Currently the company has begun a remedial drilling program to extend the drilling depth to a minimum of 25 meters under the previously discovered iron ore lenses and up to 100 meters deep should the ore body continue at greater depth. In the first of a series of mini drilling programs, four drill sites were chosen approximately 300 meters apart along the 275 degree Northwest Coloso strike in areas of confirmed heavy ore bodies</strong>. The results of the program will be made available to our shareholders and the general public upon completion.
Shipping Update: Bulk vessel shipping is currently on hold, pending the evaluation of cost savings on shipment size. The first two shipments of Guadalupe raw crude iron ore were delivered via HandyMax at 38,500 and 36,000 dry metric tons of ore, the latter shipment ended at a cost of $43.00 per wet metric ton of product. Shipping cost has recently decreased, primarily on larger capacity vessels; therefore, Management has asked the John F. Dillon Company, LLC., to assist in finding and negotiating the best Seaborne dry bulk freight rates available. A decision will be make within the next couple weeks to either ship numbers 3 and 4 separately in HandyMax or combine the two shipments into a SuperMax at 58,000 WMT or a PanaMax at 70-75,000 WMT shipment.
CWRN Current Share Structure: The Company has stated that it is not currently providing any Market Awareness nor is it involved with the market in any way.
Aug 8th 2011 www.prnewswire.com/news-releases/heavy-industry-manufacturing-latest-news/cwrn-mv-loreto-sailing-with-2nd-bulk-iron-ore-shipment-Loreto Sailing with 2nd Bulk Iron Ore Shipment
Due to the river draft at the Port of Jiangyin on the Yangtze River, some 750 metric tons of iron ore was removed from the MV Loreto Bulk Vessel.. Remaining ore on the dock will go out on the next shipment. Here is a site with some good pictures in and around the City and river port: The Loreto is a 45k/mt carrier, it was chosen for its width and shallow draft only 36,000 metric tons can be offloaded there, the final draft survey was 36,002 mt "http://ports.com/china/port-of-jiangyin/photos/#/show-gallery?o=photo-0" target=
Loreto pulled out at 6:00am PST this morning and is scheduled to arrive on Aug 27 at 18:00 hours
Operations Update: The Company will now begin preparations of its stockpiled 1-3mm Sinter Feedstock Fines for the 3rd shipment of iron ore to China this year, anticipated sailing between the 10th and 15th of September, 2011
CWRN Current Share Structure: The Company has stated that it is not currently providing any Market Awareness nor is it involved with the market in any way. The share price of the Company's stock is solely dictated by the market. 6 Bil A/S -- Current O/S: 4,361,635,980 Bil. Restricted: 2,056,610,879 Bil. Free Trading Float: 2,305,025,101 Bil.
The loading of the vessel went very smooth requiring only one move due to scheduled container vessels. Below is the load-out break down; All shipping documents have been completed, the last document required to draw down the Documentary Letter of Credit is the product analysis, which will require about two weeks.... Next shipment will be 1-3mm sinter feedstock fines...... Bob "
June 30 2011 marketwire.com/press-release/cwrn-trucking-for-2nd-bulk-iron-ore-shipment-underway
"Trucking for 2nd Bulk Iron Ore Shipment Underway This News did not appear on iLubs Newstream
PanAmMex dispatched Road Runner Trucking on June 29th, 2011 for the heavy haul trucking of processed iron minerals to the Ensenada International Terminal, Baja California, Mexico on the Pacific Ocean. An anticipated load-out date of July 26, 2011 has been set with the execution of a bulk cargo vessel fixture note. The Company will be shipping two grades of raw crude iron ore and two sizes, 1-3mm fines and 3-18mm mixed fines and lump ores in five cargo vessel holds
May 26 2011 www.marketwire.com/press-release/cwrn-revenues-distributed-2nd-bulk-shipment
Revenues Distributed, 2nd Bulk Shipment Close";the company under Irrevocable Assignment of Documentary Letter of Credit Proceeds, distributed the revenues from its first bulk shipment of iron ore under the following percentages;;"60% to ongoing operations, ;"30% to Project Investors and 10% to Management.
The Project Investors recovered approximately 75% of their cash contributions ; The Ensenada International Terminal was paid approximately $320,000.00 for receiving, storage, material handling and cargo loading, ;$356,000.00 was paid to Road-Runner Trucking, ;">$1,115,000.00 was paid to COSFAR Bulk Cargo Shipping, ;" $220,000.00 was paid in royalty fees and surface rights.
The Company was also able to meet its obligations to PowerScreen of California paying a balance of $975,000.00 for the crushing equipment. We would like to thank PowerScreen for their ability to provide us with over $1,500,000.00 in equipment that was paid off under settlement of DLC, without their help it would have been very difficult to secure the equipment we had specified for the production. The Company will be receiving more equipment from PowerScreen shortly " Note: Pan American Mineral Ventures, LLC. Officers, Directors, Insiders and Affiliates control over 50% of the Company's Outstanding Shares, Robert L. Cotton and Sharon Vazquez are co-managers of Pan American Mineral Ventures, LLC., State of Nevada, both are Officers and Directors of CWRN.OTC
K Status: CWRN is no longer a developing company and as such the non-reporting SEC status in not desirable to maintain a healthy share value for the shareholders; therefore, the Directors have agreed to move on. The company will be merging into a new mining company that will be involved with several other iron ore mining projects and will be an SEC reporting company listed on the OTC:QB; this process shall take some time and will require shareholder's voting approval. A Shareholders meeting will be held, all shareholders of record will be given a 45 day written notice of the time and place of the meeting. A news release will also be issued with the Shareholders notice.
Cotton & Western Mining, In Houston , Texas U.S.A
http://pamvmex.com Robert L. Cotton President & C.E.O. Office Ph: + 1 713 482 7593 e-mail: + 1 702 387 2347<br /> V.Pres ; Dir of Mining Operations PanAmerican Minerals Ventures, S.A. de C.V. Mexico Home Ph: Ensenada Baja Mex + 52 646 173 3663 Ph: Mobile Mexico: + 52 (1) 646 121 0442 From outside Mex, inside Mex drop the 1 Ph: Mobile U.S.A. : + 1 832 692 3542 E-mail: bobcotton@cottonwestern.com OR cottonwestern@yahoo..com
Investor Relations: ;"emilycotton@cottonwestern.com
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