LAS VEGAS, July 29, 2014 /PRNewswire/ — Amarium Technologies, Inc. (OTC: AMMG) through its wholly owned subsidiary Amarium Minerals Inc., reports that the Company has signed a definitive agreement to acquire the El Desvan Cobre SA property, located in Michoacan, Mexico. Amarium completed the agreement to acquire a 100% interest in the El Desvan from Minera Rio Cobre SA de CV, after signing a Letter of Intent to acquire the mine on June 18th, 2014. Terms of the agreement have not been released at this time, but the Company reports the value of the acquisition at USD $7.9 million.
"We are absolutely thrilled to complete the acquisition of El Desvan, and continue our mission of expanding the Company's footprint in the region. Michoacán is one of the premiere copper producing areas in Mexico, and El Desvan has been the focus of both previous exploration and artisan production," expressed Adam Carter, the President and CEO of Amarium. "It is our clear mission to expand our portfolio of mineral assets through either acquisition or exploration, and El Desvan is a truly rare opportunity that fits our mandate in every conceivable manner."
Amarium is focused on the acquisition and development of base metals projects in Mexico that are currently in or near production and advanced exploration properties that will add substantially to the Company's asset foundation. Management is continuing to actively pursue mineral interests that represent significant growth, value and cash flow opportunities.
For additional information, please visit: http://www.amariumminerals.com.
This press release contains statements that are forward-looking and which involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in question are based on Amarium Technologies, Inc.'s current expectations and projections about future events, based on information currently available. The forward-looking statements found in this press release may also include statements relating to Amarium Technologies, Inc.'s anticipated financial performance, business prospects, new developments, strategies, and similar matters. Amarium Technologies, Inc. provides no assurance regarding the actual outcome of the events contemplated by any forward-looking statements included in this release. Amarium Technologies, Inc. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
Amarium Technologies Inc.
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SOURCE Amarium Technologies Inc.