CGrowth Capital, Inc. Releases Business Update
SILVERDALE, Wash., Oct. 25, 2012 /PRNewswire/ -- CGrowth Capital, Inc. (Pink Sheets: CGRA) today announces that it has shifted its corporate focus.
The Company recently completed at transaction with its major shareholders transferring control of the Company to a group led by new Chief Executive Officer, Bill Wright.
"This is an exciting time for our company," stated Bill Wright, CEO. "While the economy continues to vacillate, we are positioning the Company to acquire hard assets in the form of gold, silver, and other precious metals. As prices of precious metals continue to remain strong, we will strengthen our asset base and seek to increase shareholder value."
Since the closing, the Company has already shifted its focus and executed two non-binding Letters of Intent with asset holders, a processing company, and a joint venture partner. The Company is now working to secure the necessary funding to execute on the business opportunities and grow its asset base.
Among the positives the mining focus brings:
- The industry deals with commodities that are high in demand worldwide.
- Valuation of the assets is easily ascertainable.
- Transformation of the assets, from raw earth to precious minerals, allows for increased margins than simply raw material.
Mr. Wright went on to say, "With the excitement in precious metals and the initial responses that we have had from investors, we believe we will be able to raise sufficient funding to allow us to execute on our business plan and begin monetizing these assets. We look forward to providing updates to our business development in the coming weeks."
For more information about CGrowth Capital, visit their website: http://www.CGrowthCapital.com
About CGrowth Capital, Inc.:
CGrowth Capital, Inc. serves as a holding company for businesses and assets focused on all aspects of mining. The processing of metal ore mining is a multi-billion dollar market opportunity which is capitalized through processing, sales, contracting and licensing of assets. CGrowth Capital's services and solutions are designed to assist land owners with monetizing undervalued assets by bringing commodities such as gold and silver to market. CGrowth Capital will focus on acquiring or "claiming" land assets, while also providing partners and affiliates with management services, capital, contract management and logistical services necessary for the successful execution of mining operations.
CGrowth Capital, Inc.
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties. The Company disclaims any obligation to update or revise any forward-looking statements.
SOURCE CGrowth Capital, Inc.