AUSTIN, Texas, Oct. 17, 2012 /PRNewswire/ -- Buyer Group International, Inc. (OTC PK: BYRG) ("BYRG" or the "Company") today announced a Business Development Initiative – based upon initial exploration results on prospects in Greenland and British Columbia.
As reported earlier, BYRG has entered into a Letter of Intent for a joint venture to acquire interest in 360,000 acres near Isortoq, Greenland with deposits of iron, titanium and vanadium. Further, BYRG reported that it received an executed offer to purchase certain crown granted claims from private owners in British Columbia. Subject to finalization and financing, the expansion of that program is anticipated to increase access to close to 1,000 hectares of past producers spread over three claim areas holding precious and strategic reserves of silver, gold, zinc, lead, copper, nickel, and tungsten.
In the following weeks and months, BYRG will release various types of reports such as a study done by Newmont of Canada Ltd, by experts such as Dennis M. Bohm, RSc. geological engineer. In disclosing such information BYRG expects to further disclosure by bringing a high level expertise and talent to bear on existing results based upon the increased need for expertise and transparency in the market. BYRH is working on letters of intent to acquire six other properties in the foreseeable future.
"BYRG's goals are to execute in the very near term a business development program centered around increasing holdings and production of mineral reserves for both long term management and short term development and production that can be sold on the current market. This means bringing funding to bear on minerals that have immediate value, and bringing partnerships to those that have long term value. As various types of minerals are coming into play we want to maximize development for minerals reaching their market peak in value. Then we want to bank or hold long term those that have yet to reach their peak and may be several years away from doing so. We will be looking at fundamental indicators in the markets, such as the automobile industry, to determine, if any minerals qualify for longer term management. Rhodium is a great example of a metal we have holdings in that is expected to return to higher value sometime in the intermediate future. This property may also yield gold and silver as well and we have to weigh the implications of deferring actions on them," said David A. Bryant, CEO of BYRG.
It is important to note that successful conclusion all of these projects and prospects are subject to numerous material contingencies, including financing, obtaining certain guarantees, further due diligence, and exploration and operating results, of which there is no assurance.
BYRG and its advisors believe that strategic development of mineral rich lands will give the shareholders the best long term returns of any industry including government and municipal investment.
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Buyer Group International, Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be", "expects", "may affect", "believed", "estimate", "project" and similar words and phrases are intended to identify such forward-looking statements. Buyer Group International, Inc. cautions you that any forward-looking information provided by or on behalf of Buyer Group International, Inc. is not a guarantee of future performance. Completion of the transaction is dependent upon important contingencies, including completion of financing, of which there is no assurance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Buyer Group International, Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Buyer Group International, Inc. 's control. In addition to those discussed in Buyer Group International, Inc.'s press releases, public filings, and statements by Buyer Group International, Inc.'s management, including, but not limited to, Buyer Group International, Inc.'s estimate of the sufficiency of its existing capital resources, Buyer Group International, Inc.'s ability to raise additional capital to fund future operations, Buyer Group International, Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Buyer Group International, Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Buyer Group International, Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
SOURCE Buyer Group International, Inc.