Buyer Group International, Inc. (BYRG.PK) to Acquire Majority Interest in the Greenland Caribou Corporation With Aalasoq Processing Station, Lands and Resources
AUSTIN, Texas, April 26, 2013 /PRNewswire/ -- Buyer Group International, Inc. (OTCPINK: BYRG) has acquired option rights to the majority interest in Caribou Greenland, Corporation (GCG) based near the town of Isortoq, Greenland, including lands and surface rights approximating 360,000 acres, and a 50% interest in the meat processing facility, equipment and small hydro facilities, and live herd, all valued at approximately $4,000,000. The valuation was done by local accounting firm BK Revisions ApS. BYRG is paying common stock valued at $200,000($DKK1,445,160) @.01 per share or 20 million shares. Additional payments of $500,000 are due in 6 months and $2,000,000 in two years. Completion of the project is subject to financing and other material contingencies.
"Recent studies and research reports suggest that the area in south Greenland will continue in its development and construction with China opening up free trade alliances with Iceland and their trip to Denmark. This is all about Greenland, and we have our foot in the door," said CEO David Bryant in a recent phone interview.
"The property is situated roughly at approximately 70 kilometers west of the port town of Narsaq, Greenland, near Isortoq, South Greenland a Territory of Denmark. The area has access to water and BYRG will be looking to expand hydro and geothermal power generation options in the area, as well as looking at the installation of a port facility which makes the area attractive to future development. We anticipate these types of projects will garner attention and support from outside participants as we look to source material and equipment to Greenland to fuel the development boom looming on the horizon," Mr. Bryant said.
Buyer Group International President, David A. Bryant stated, "This is a very exciting time for Buyer and our shareholders. We have entered a growth phase at BYRG with significant book value and expected exponential growth in revenues we plan to be very busy in the upcoming quarter."
About Buyer Group International, Inc.
Buyer Group International, Inc. is an international precious minerals exploration company with an aggressive development and acquisition plan owning significant assets in Gold, Silver, Platinum, Rhodium and other metals both precious and industrial in nature. Buyer Group International also owns a joint partnership position in Gryphon Production Ltd. which produces movie and TV projects and maintains an ownership in library of completed works.
For more information see www.buyergroupint.com
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SOURCE Buyer Group International, Inc.