JPX Global, Inc. Enters Joint Venture Agreement to Extract and Sell Sand and Gravel
20 Junio 2013 - 2:44PM
JPX Global, Inc. (OTC:JPEX) (the "Company"), entered into a Joint
Venture agreement with CGrowth Capital, Inc. (OTC Pink:CGRA)
("CGrowth") to extract and sell sand and gravel from the 15-acre
Chewelah Community Pit located near Colville, Washington. The
initial contract is for the removal of 49,900 cubic yards of
material with a potential gross value exceeding $640,000. The
Company is working with CGrowth and the Bureau of Land Management
("BLM") to increase the quantity of material to be extracted and
sold to 2,000,000 cubic yards over a 5-year period.
The contract calls for total payments of $350,000 in working
capital to the project within the next 30 days. The Company
has paid $50,000 towards the initial startup expenses. CGrowth is
obligated to oversee and provide operational, on-site, and sales
support in respect to the Chewelah Community Pit
operation. Pursuant to the Joint Venture Agreement, the
Company will receive 51% and CGrowth will receive 49% of the net
proceeds from the sand and gravel pit.
Chief Executive Officer Jim Foran stated, "We are excited about
this division of the Company and the opportunity to sell sand and
gravel to the regional construction industry, and will be able to
announce further developments with this project as the materials
are extracted from the Chewelah Community Pit and sold to regional
customers."
Bill Wright, CEO of CGrowth Capital, Inc., stated, "The JPX
Global team has set themselves apart from others by committing to a
project and following through with those commitments. Their
management team recognized a good opportunity and an equally
committed partner in CGrowth Capital. We are excited about
putting the site into production, and in fact, have already
delivered heavy equipment to the site. The diversification for
CGrowth Capital and our new JV partner should make for an exciting
summer."
About JPX Global, Inc.
JPX Global's purpose to develop mineral extraction and also to
provide municipalities with management and disposal of solid
municipal waste, including energy co-generation. The Company's
commitment to the municipality is to provide a cost effective,
green solution to managing waste supply.
For more information, visit www.jpxglobalinc.com
About CGrowth Capital, Inc.:
CGrowth Capital, Inc. serves as a holding company for
businesses and assets focused on all aspects of mining. The
processing of metal ore mining is a multi-billion dollar market
opportunity which is 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
and silver to market. CGrowth Capital will focus on acquiring 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 operations.
For more information about CGrowth Capital, visit their website:
http://www.CGrowthCapital.com
This press release may contain certain forward-looking
statements regarding future circumstances. These forward-looking
statements are based upon the Company's current expectations and
assumptions and are subject to various risks and uncertainties that
could cause actual results to differ materially from those
contemplated in such forward-looking statements. Actual results,
events, and performance may differ. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as to the date hereof. The Company undertakes no
obligation to release publicly any revisions to these
forward-looking statements that may be made to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events. The inclusion of any statement in this
release does not constitute an admission by the Company or any
other person that the events or circumstances described in such
statements are material.
CONTACT: Investor Inquiries:
CGrowth Capital, Inc.
888-218-2472
Express IR
(512) 267-2430
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