GlobalMin Ventures Inc. (Symbol: GMVI)
CARSON CITY, NV, Dec. 8, 2014 /PRNewswire/ - GlobalMin Ventures
Inc. announces the acquisition of 100% ownership of the Guyana
Platinum Project ("GPP") in Guyana, South
America, including ownership of GlobalMin Guyana Inc., has
been completed in Escrow. Total consideration payable was 40
million restricted shares of GMVI (the Shares) and $1,000 Guyanese Dollars for all the outstanding
shares of GlobalMin Guyana Inc. (the G Shares). All of the
Shares and the G Shares have been deposited with an Escrow Agent.
20 million of the Shares were registered to Globalmin LLC, 15
million to Mojave Gold Corp, both private Nevada companies, and 5 million to two
creditors (the Creditors) in settlement of outstanding Notes.
The escrow agreement provides for the Escrow Agent to hold the
GlobalMin LLC Shares, the Creditors' Shares and the G Shares
pending receipt of Prospecting Licenses which GlobalMin Guyana has
applied for and are being processed by the Guyana Geology and Mines
Commission. The Mojave Gold shares will be held by the Escrow
Agent until a registration statement to be filed by the Company
goes effective, following which they will be distributed to the
Mojave Gold shareholders.
All parties receiving the GlobalMin Venture shares have agreed
to a Lock up Agreement where 1/3 of the shares may be resold after
6 months following the registration statement becoming effective,
1/3 after 9 months, and 1/3 after 12 months.
At closing, two new Directors, John
Mack and Dr. Paul Lechler
were appointed to the Board of Directors. Joey Guerra
and Howard Barth have submitted
their resignations. The Company, withes to thank Joey and
Howard for their services. Joey
Guerra has agreed to act as an advisor to the New Board of
Directors.
John Mack has over 30 years of
international banking experience. For more than 25 years Mr. Mack
served in senior management positions at Bank of America, including
12 years as Corporate Treasurer. Between 2002 and 2005 he served as
Senior Managing Executive Officer and CFO of the $9 Billion Shinsei Bank of Tokyo, Japan and is presently Vice-Chairman
and a Director of Islandsbanki located in Reykjavik, Iceland. He is an officer or
director of several public companies. Mack holds an MBA
from the University of Virginia Darden
School of Business and a Bachelor's degree in economics from
Davidson College.
John Mack comments, "As a
co-founder of Mojave Gold, I am very pleased that after a number of
years of hard work in advancing this project we are now positioned,
with the completion of this acquisition by GlobalMin Ventures, to
take the next exciting steps forward and drill these exceptional
platinum targets that Dr. Lechler has discovered."
Dr. Lechler was Chief Geochemist for the Nevada Bureau of Mines
and Geology. Paul received a BA in Geology from Montclair State College, an M.S. in Geochemistry
from Rutgers University, and a Ph.D. in
Geology and Geochemistry from MacKay
School of Mines, University of Nevada,
Reno.
His dissertation research focused on the geology and
geochemistry of platinum-palladium deposits. He has dedicated many
years to platinum exploration in Guyana, culminating with three major target
areas stretching over 128 thousand acres, which are now nearly
ready to drill. He will sit as a Board member and head the
geological committee that GlobalMin Ventures will form.
Dr. Lechler comments, "I have been working closely with the
Mining Commission in Guyana and we
are progressing towards obtaining 10 Prospecting Licences. This
will allow us to move forward with the next phase of exploration
and test these targets with drill programs."
The Company's Platinum Project is located in Guyana, South
America which is a mining friendly, English speaking and
democratic country. The Project is made up of three main Target
areas that are thought to be the sources of the Platinum Group
Metals (PGM) present in river sediments located down stream of
these Targets. The PGM discoveries are in an advanced exploration
stage with results from exploration work in 2012 and 2013 further
defining the mineralization in all three Targets.
FORWARD-LOOKING STATEMENTS: This news release may contain
certain "forward-looking statements" within the meaning of Section
21E of the United States Securities Exchange Act of 1934, as
amended. Except for statements of historical fact relating to
the Company, certain information contained herein constitutes
forward-looking statements. Forward-looking statements are
frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate" and other
similar words or statements that certain events or conditions "may"
or "will" occur. Forward-looking statements are based on the
opinions and estimates of management at the date the statements are
made and are subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ
materially from those projected in the forward-looking
statements. These factors include the inherent risks involved
in the exploration and development of mineral properties, the
uncertainties involved in interpreting drilling results and other
ecological data, fluctuating metal prices, the possibility of
project cost overruns or unanticipated costs and expenses,
uncertainties relating to the availability and costs of financing
needed in the future and other factors. The Company
undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should
change. The reader is cautioned not to place undue reliance
on forwarding-looking statements.
SOURCE GlobalMin Ventures Inc