Buyer Group International Inc. (BYRG.PK) Receives Letter of Interest for 2013 Exclusive Joint Business Development with Indonesia Business Development Organization BYRG Receives LOI From KADIN Indonesian Development Board
AUSTIN, Texas, Feb. 4, 2013 /PRNewswire/ -- Buyer Group International, Inc. (OTCPINK: BYRG) ("BYRG" or the "Company") today announced it has received Letter of Interest for joint development of projects in Indonesia from business development organization Indonesia Chamber of Commerce and Industry (KADIN).
Company information available at: http://www.byrg.org
"We are excited to be moving into this accelerated phase of business development. The indication in writing by the chamber to establish a joint venture and provide exclusive support through their organization is a capstone for our business development strategy," said BYRG CEO Dave Bryant. He further stated, "Indications are that KADIN wishes to be the sole regional supporter for Buyer Group International. This is a testament to the fundamental strength of our approach to business development and capitalization in the region. The projects they have indicated support for is focused towards mineral benefication including shelter, infrastructure, energy, and financial and capital services development exported by our organization to assist their government with providing job programs."
Some of the lands that will be considered for development include areas from the mineral rich Sumbawa district, consisting of three groups with indicated showings. Area of 15 Hectares (Ha), has two confirmed areas with sampling showing .36 gr/t of Au, 120 gr/t of Ag, 5.05 Ha including 35 samples, 23 rock surface samples, showing 13.8 gr/t Au, 15.5 gr/t Ag, and 183 ppm of Mo, and finally, 31.25 Ha with 3000m of trending copper gold with values showing 879 gr/t of Cu, 4.13 gr/t Au, 19 gr/t Ag, plus .93% Zn, and 5.53% Pb.
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.
Completion of the proposed transactions are dependent upon important contingencies, including BYRG obtaining financing and guarantees, of which there is no assurance.
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.
Company website: www.byrg.org
SOURCE Buyer Group International Inc.