Amarium Signs LOI to Acquire High Grade Copper Mine
LAS VEGAS, June 18, 2014 /PRNewswire/ -- Amarium Technologies Inc. (OTC: AMMG) (PINKSHEETS: AMMG), through its wholly owned subsidiary Amarium Minerals Inc., reports the Company has signed a Letter of Intent (LOI) to acquire a high-grade copper property in Michoacán, Mexico. This copper property has been previously worked as a smaller scale artisan mine. Due to the prior mining and extensive exploration, management believes there is a sufficiently significant available copper resource at this location to warrant large-scale commercial production. Terms of the pending acquisition have not been disclosed at this time.
"This acquisition target has been on our radar for a while, due to the close proximity of the San Pedro Mine," said Adam Carter, the President & CEO of Amarium. "There is a proven mineral resource already in place, and the property has been the focus of artisan miners in the past. We hope to announce a definitive agreement shortly."
The LOI is consistent with Amarium's previously announced Mineral Asset Acquisition Program (MAAP). On June 9th, 2014, AMMG announced the initiation of the MAAP, and that a cash dividend was currently under review by company management.
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.
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SOURCE Amarium Technologies Inc.