“This is a very important acquisition for Shamika and confirms the company’s strategy to acquire and develop international gold assets ready or close to production”
via CAAI
MONTREAL--(BUSINESS WIRE)--Aultra Gold, Inc. (OTC BB: AGDI), operating internationally as Shamika2Gold (“Shamika”), has executed a definitive securities exchange agreement to acquire a concession of a gold and ruby exploration license in Cambodia. The area covered in the license is comprised of approximately 158 square miles in the Samlaut district adjacent to the famous Pailin ruby gem area. A Phase 1 & 2 Survey Report on the project was prepared by Terra Insight Services, Inc., a subsidiary of Terra Energy & Resource Technologies, Inc. (TEGR.OB), suggesting potential resources of 1.5 million ounces of gold and 9,000 kilograms of rubies.
Upon consummation of the exchange, Shamika will acquire approximately 85% of the capital stock from the Mauritius holding company which, upon formation and contribution, will hold these mining rights in exchange for 57,000,000 shares of Shamika common stock and shares of Series B Performing Preferred Stock, entitling the holder to 45% of the net operating profit from the mining project. The closing is conditioned upon the formation of the holding company and subsequent contribution of the mining rights.
“This is a very important acquisition for Shamika and confirms the company’s strategy to acquire and develop international gold assets ready or close to production,” stated Robert Vivian, President and Chief Executive Officer.
About Aultra Gold, Inc.
Aultra Gold Inc., which operates as Shamika2Gold, is an international junior gold company with strategic holdings in the Kilo Moto Greenbelt in the Democratic Republic of Congo, where major mining companies have begun exploration and development. Over $300 million of exploration, development and production capital has been allocated to the Kilo Moto Greenbelt in the last three years. The company’s strategy is to become a global exploration and production company.
Aultra Gold, Inc. is 51% owned by Shamika Resources, Inc., a private company domiciled in Canada. Shamika Resources, which has extensive holdings of mineral resources, including gold in the Democratic Republic of the Congo, is engaged in the acquisition of mineral reserves in Africa. The corporate strategy is to develop a portfolio of mineral companies, unlocking value for shareholders, and opening up multinational access to the capital markets.
Forward-Looking Statements
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Aultra Gold, Inc. are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by Aultra Gold, Inc. are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors, which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities.
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