VSUS Technologies Inc. Signs Definitive Agreement to Acquire Compania Minera San Jose Ltda. in Colombia.
The Company also announces payment in full of final convertible note to Asher Enterprises.
BOGOTA, Colombia, Jan. 16, 2013 /PRNewswire/ -- VSUS Technologies Inc. (OTCQB: VSUT) ("VSUS" or the "Company") announced today it has entered into a definitive agreement to acquire Compania Minera San Jose Ltda. in Colombia from Erasmo Almanza .
Compania Minera San Jose Ltda. is a twelve year old company set up to explore and exploit coal in central Colombia. VSUS Technologies is acquiring "San Jose Mining" to use as an operating subsidiary for their coal operations in Colombia. The Company acquired Concession Contract # ILE-09551 from Erasmo Almanza in February, 2011. According to Article 22 from Law 685 of 2001, upon approval by the National Mining Agency, Mr. Almanza can cede title of the Concession Contract to the company's wholly owned subsidiary. The Company does not anticipate any issue with the transfer of title.
The Company intends to elect Erasmo Almanza as a Director. Mr. Almanza holds title to, or has solicited for, over 4000 HA of metallurgical coal concessions in central Colombia. Mr. Almanza brings over 40 years of experience in the coal, oil and gas industries in Colombia and the United States. A petroleum engineer by trade, he is currently General Manager of Compania Minera San Jose since 2000. Prior to that Mr. Almanza held several management positions within the oil and coal industry including Ingepetrol, BAROID International Co. and Core Laboratories International in Houston, Texas. He earned a Bachelors Degree in Petroleum Engineering from the Universidad America in Bogota, Colombia. Mr. Almanza has been exploring for coal in central Colombia for over 15 years.
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The Company also announces it has paid in full its last remaining convertible note with Asher Enterprises. The retirement of this debt not only significantly reduces company liabilities but also the expense associated with carrying that debt and the ability of that debt to be converted and dilute the shares outstanding.
Recently VSUS Technologies, Inc. announced a name change to New Colombia Resources, Inc. The Company anticipates the name and symbol change with FINRA to take effect January 22, 2013.
About New Colombia Resources, Inc. f/k/a VSUS Technologies, Inc.
New Colombia Resources, Inc. is focused on the acquisition and development of high-quality metallurgical coal properties in the Republic of Colombia. They own 100% of La Tabaquera mine in Colombia with an estimated 15- 17 MM tonnes of reserves, 70% metallurgical and 30% thermal coal. Once the necessary financing is obtained, the Company plans to have three revenue producing business units in Colombia: coal mining, coking oven facilities, docks, river, and rail transportation to export terminals in Colombia. The Company is also exploring allegiances with U.S. universities to study capturing Coal Bed Methane (CBM) in Colombia. For more information on the Company visit their website at www.vsustechnologies.com. The company's new website under construction is www.newcolombiaresources.com.
Transportation, Logistics and Other Information
With proper financing New Colombia Resources plans to build or acquire wholly owned river or rail loading facilities on the Magdalena River close to their mines. The coal will be trucked to these distribution centers, and then barged via the Magdalena River or by rail to terminals in Barranquilla, Santa Marta , or Buenaventura for export. Initially they will use existing logistics providers while their transportation projects are being developed. After the rail projects and the "Road to the Sun" project are completed, New Colombia Resources will have one of a few metallurgical coal mines in the World with river, rail, and road access to coal export terminals on both the Atlantic and Pacific Oceans.
Forward Looking Statements
Forward Looking Statements; This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include financing, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations. New Colombia Resources, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
New Colombia Resources, Inc.
Mr. John Campo
(57) 318-657-0918 Colombia
New Colombia Resources
Cra. 16 # 79-31 Suite 703a
SOURCE VSUS Technologies Inc.
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VSUS Technologies Inc. Announces Name Change to New Colombia Resources, Inc.
Jan 10, 2013, 09:00 ET
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