CGRA >>Establishes Processing Site for Mining Operations//CGrowth Capital, Inc. Executes Memorandum of Understanding
Agreement Establishes Future Processing Site for Mining Operations
MarketwiredPress Release: CGrowth Capital, Inc. – Tue, Nov 5, 2013 7:00 AM EST
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SILVERDALE, WA--(Marketwired - Nov 5, 2013) - CGrowth Capital, Inc. (OTC Pink: CGRA) (the "Company") is pleased to announce that it recently executed a comprehensive Memorandum of Understanding ("Agreement") with asset holders in Stevens County, Washington. The Agreement incorporates the purchase of an existing 47 acre industrial site located just 38 miles from the Company's mining operations; extensive mineral rights to terrazzo, dolomite, silica, and gravel, which incorporates over 10 physical quarry locations; and the purchase of controlling interest in a company with current assets, inventories, and sales channels for the minerals.
In conjunction with the Agreement, the Company also executed a Contract for Hire Agreement ("Contract") with the same asset holders to provide for site cleanup, inventory cataloging, and asset liquidation of specified tools, equipment, and buildings on the 47 acre site as well as another industrial site not included in the Agreement. Under the Contract, the Company is overseeing the liquidation and site cleanups through its partner, Cedar Canyon Mining Corp. and a representative of the asset holders. As compensation, the Company is receiving 60% of the liquidated assets during the term of the Contract, 20% paid weekly and 40% to be applied to the purchase of the industrial site detailed in the Agreement.
"We feel very blessed to have met the group of people we are doing business with in Stevens County," stated Bill Wright, CEO of CGrowth Capital, Inc. "We have been diligently working to increase our asset base, increase our revenue streams, and diversify our holdings and outlets. The Agreement, once completed, will provide for a substantial boost by all accounts. By increasing our assets and revenue through strategic planning, we are keeping our stockholders protected and increasing overall shareholder value."
Mr. Wright continued, "The industrial site will provide a great location and advantage in our being able to process ore on a year round basis. The handling of our own processing will greatly reduce our overall cost of precious metal recovery once into production. The characteristics of the property, including the layout, building structures, and rail line on the property, will also provide for excellent facilities for the processing and shipping of the minerals being acquired. We are really excited about this new relationship and look forward to expanding on how all of the pieces will fall into place and complement each other."
The Company has already begun to book revenue and plans on releasing additional information on each segment as benchmarks are reached. The Agreement requires the completion of the Contract for Hire, execution of Special Warrantee Deeds accompanied by Royalty Agreements regarding the mineral rights, completion of Real Estate Purchase and Sale Agreements covering the industrial site, and a Stock Purchase Agreement related to the company acquisition.
For more information about CGrowth Capital, visit their website: http://www.CGrowthCapital.com
About CGrowth Capital, Inc.:
CGrowth Capital, Inc. serves as a holding company for businesses and assets focused on all aspects of mining, minerals, and exploration. The processing of metal ore mining and oil and gas exploration both represent multi-billion dollar market opportunities which are capitalized through processing, sales, contracting and licensing of assets. CGrowth Capital's services and solutions are designed to assist land owners with monetizing undervalued assets by bringing commodities such as gold, silver, oil and gas, and other minerals to market. CGrowth Capital will focus on acquiring, leasing, or "claiming" land assets, while also providing partners and affiliates with management services, capital, contract management and logistical services necessary for the successful execution of mining exploration and operations.
Safe Harbor
Statements about the Company's future expectations and all other statements 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 forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties. The Company disclaims any obligation to update or revise any forward-looking statements.
Contact:
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CGrowth Capital, Inc.
888-218-2472
