Nice news!! SILVERDALE, Wash., March 8, 2013 /PRN
Post# of 921
Nice news!!
SILVERDALE, Wash., March 8, 2013 /PRNewswire/ -- CGrowth Capital, Inc. (Pink Sheets: CGRA) (the "Company") is pleased to announce that it has completed its second purchase and acquisition of additional major pieces of equipment. This purchase was necessary for the processing of raw ore and crushing it to create concentrates.
The purchase includes two (2) Stutenroth Crushing Mills, a Helix Spiral Cleaner, a CAT 416 Backhoe, a CAT 311 Excavator, two (2) dump trucks and other miscellaneous related equipment. The components play a vital role in preparing the raw ore for its processing and removal from the mountain. The total asset value of the purchase is $133,600 and was paid for with a cash deposit of $7,600, 1,000 shares of restricted Series A preferred stock, and a note in the amount of approximately $116,000. The note carries an interest rate of 6.35%.
"As you can see we are not sitting idle," said Bill Wright, CEO of CGrowth Capital, Inc. "We set out this year to begin production and we are delivering on that promise. This purchase follows on our previous announcement of strategic equipment purchases to begin production. We are getting excited to start putting people to work in the local community."
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