NEW YORK and MONTREAL, April 10, 2012 /PRNewswire/ - Canwealth Minerals Corporation and majority shareholder, ICBS Ltd., (OTCPK: ICBT), announced today that it plans to meet with the companies auditors and lawyers to look into the possibility of taking Canwealth public.
Canwealth Minerals Corporation will be meeting in Montreal with representatives from ICBS Limited its major corporate shareholder to discuss the possibility of taking Canwealth public in the near future.
Canwealth Minerals Corporation - is a mineral exploration and mining company actively searching for gold, silver, PGE, base metal and REE mineral deposits in Quebec. At the present time the company holds 9 Mining properties (268 Claim cells) in Northern Quebec's Abitibi region and the James Bay basin including addition exploration camps in South Western Quebec for a total of 38,573 acres under management and is 100% owned by Canwealth Minerals Corp. Canwealth will require development funding for equipment and labour which could top three million dollars over the next two years.
The company and its shareholders will look into several possibilities including a reverse merger with an existing listed company.
Core drilling to determine the extent of the precious mineral deposits is expected to commence in the early spring, with results expected by the summer.
ICBS Limited is a 51% shareholder in Canwealth Minerals Corp.
Legal Notice Regarding Forward-Looking Statements:
Safe Harbour: This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbour created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of ICBS Limited, to be materially different from the statements made herein.
SOURCE Canwealth Minerals Corporation